Phoenix Hits New Group Of Banks, Insurers With IP Suit

Law360, New York (February 26, 2010, 1:03 PM EST) -- ING Bank FSB, TD Bank NA, U.S. Bancorp and a slew of others have become the latest financial institutions and insurers targeted with infringement claims by Phoenix Licensing LLC over two patents related to financial marketing technology.

The suit, filed Thursday in the U.S. District Court for the Eastern District of Texas, accuses 22 financial institutions of infringing two patents — U.S. Patent Numbers 5,987,434, titled “Apparatus and method for transacting marketing and sales of financial products” and issued in 1999, and 6,999,938, titled “Automated reply...
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