JPMorgan Settles Patent Suit Over Check Imaging Technology

Law360, New York (July 6, 2005, 12:00 AM EDT) -- A closely held company that invented a technology for electronically capturing and storing check images agreed Wednesday to settle a patent infringement lawsuit it had brought against JPMorgan Chase & Co., but immediately launched a series of new lawsuits against Bank of America, Citigroup, Wachovia and Wells Fargo.

Under the terms of the settlement, DataTreasury Corp. said it had granted JPMorgan a license to use the patents involved.

Financial terms were not disclosed. DataTreasury had been seeking “billions of dollars” in compensation, including punitive damages because...
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