Patent Suit Against Federal Reserve Banks Tossed

Law360, New York (November 12, 2007, 12:00 AM EST) -- A fraud-prevention software company's patent infringement lawsuit against three Federal Reserve banks and a rival firm has been chucked, after a district court judge ruled that the action should have been filed against the federal government.

Judge Catherine Perry of the U.S. District Court for the Eastern District of Missouri on Friday granted the defendants' motion for summary judgment, siding with their argument that financial IT firm Fiserv Inc. and the Federal Reserve banks were acting “for the United States.”

“The undisputed facts of this case...
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