Suit Filed Over SEC Compliance Patent In Muni Bonds

Law360, New York (January 19, 2007, 12:00 AM EST) -- A tiny company that provides disclosure services for the municipal bond market has filed a patent infringement lawsuit against a Texas financial reporting body, accusing it of violating technology that helps the market comply with regulatory rules.

The lawsuit was filed Jan. 19 by Digital Assurance Certification LLC against the Municipal Advisory Counsel of Texas (MACT) in federal court for the Middle District of Florida. It seeks injunctive relief and damages for willful infringement.

The technology helps the municipal bond market comply with disclosure rules set...
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