Acacia Unit, Discover Resolve Credit Card IP Spat

Law360, New York (March 25, 2010, 11:33 AM EDT) -- Discover Financial Services has reached a settlement in an Acacia Research Corp. unit's suit accusing more than a dozen credit card issuers of infringing a patent for third-party credit cards.

Acacia subsidiary Restricted Spending Solutions LLC entered an agreement with the credit card giant to resolve litigation in the U.S. District Court for the Northern District of Illinois, according to a filing the patent-licensing company submitted to the U.S. Securities and Exchange Commission on Wednesday.

A spokesman for Simmons Browder Gianaris Angelides & Barnerd LLC, which...
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