Wells Fargo Loses 2nd USAA Patent Trial In $102M Verdict

By Mike LaSusa (January 10, 2020, 10:30 PM EST) -- A federal jury in the Eastern District of Texas handed down a $102 million verdict against Wells Fargo on Friday, marking the second time in recent months that a jury has found the bank willfully infringed mobile deposit patents owned by the United Services Automobile Association.

Friday's $102,792,510 verdict comes after another jury in the same district found in November that Wells Fargo Bank NA infringed two different USAA patents and ordered the bank to pay $200 million in damages.

The juries in both cases found that the infringement was willful, so the total damages could eventually be tripled to over $900 million....

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