JPMorgan, Citi Zinged Over Check-Reading Patent

Law360, New York (November 20, 2008, 12:00 AM EST) -- A company that processes online payments has sued JPMorgan Chase & Co., Citigroup Inc. and numerous other major banks, accusing them of infringing a patent for electronic check-reading systems.

LML Patent Corp. filed the suit Wednesday in the U.S. District Court for the Eastern District of Texas.

The patent-at-issue is U.S. Patent Number RE 40220, titled “Checkwriting point of sale system.” According to documents filed with the U.S. Securities and Exchange Commission, the patent addresses electronic check methods and systems. It is a reissue of a...
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