Check-Imaging Patent Owner Ducks $15B Fraud Suit

Law360, New York (May 14, 2013, 6:25 PM EDT) -- Patent-licensing company DataTreasury Corp. and its founder were dismissed Friday from a $15 billion fraud lawsuit that claimed they bilked an early investor out of profits they made by licensing their oft-asserted check-imaging patent to banks.

Justice Elizabeth Hazlitt Emerson of the New York Supreme Court ruled that each of the claims filed by purported investor Ted Doukas against DataTreasury and founder Claudio Ballard were lodged well after the statutory time limit had expired.

Doukas had claimed that he entered into an oral partnership with Ballard...
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