BofA Ducks Intellectual Ventures' Online Banking Patent Suit

Law360, Los Angeles (March 5, 2014, 6:21 PM EST) -- A North Carolina federal judge on Wednesday tossed a suit by two affiliates of patent holding company Intellectual Ventures Management LLC accusing Bank of America of violating online billing patents, ruling Intellectual Ventures left out key information in its claims.

U.S. District Judge Robert J. Conrad Jr. approved a magistrate judge’s recommendations to dismiss the suit with prejudice for not including any facts to support its argument that Bank of America knew visitors to its website would infringe Intellectual Ventures’ patents.

“Plaintiffs’ complaint should have alleged...
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