Visa, Others Sued Over Limited Charge Card Patent

Law360, New York (May 19, 2009, 12:00 AM EDT) -- A unit of Acacia Research Corp. has accused a slew of banks and credit card companies that issue limited charge cards designed for teenagers or corporate employees — including Visa USA Inc., Wachovia Corp. and Bank of America Corp. — of infringing on a patent for "third-party credit cards."

The complaint, filed Monday in the U.S. District Court for the Central District of Illinois, alleges that 14 financial institutions have either directly or indirectly infringed Restricted Spending Solutions LLC's patent and have also induced and contributed...
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