PNC Financial Settles Patent Suit

Law360, New York (January 16, 2007, 12:00 AM EST) -- PNC Financial Services Group Inc. has settled a suit regarding 16 interactive call-processing patents owned by Ronald A. Katz Technology Licensing LP.

The settlement revealed Tuesday calls for PNC to pay an undisclosed sum for a nonexclusive license to use Katz’ patents.

"We are pleased to welcome the PNC Financial Services Group Inc. to the significant list of financial services companies who have purchased license rights under this portfolio," said Ronald A. Katz, chief executive of Ronald A. Katz Technology Licensing L.P.

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