UBS Exits Inventor's Suit Over Online Banking Patent

Law360, New York (December 8, 2008, 12:00 AM EST) -- A federal judge has approved the dismissal of UBS Financial Services Inc. from an infringement suit brought by a Florida man who has sued dozens of the nation's largest banks, claiming their secure online banking services infringe his patent.

Judge David Folsom of the U.S. District Court for the Eastern District of Texas signed off on the stipulated dismissal Monday. UBS and plaintiff Leon Stambler of Parkland, Fla., agreed to drop all claims between them with prejudice.

Each side will pay its own costs and attorneys'...
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