PayPal Dropped From Online Data Security IP Suit

By Allison Grande (June 2, 2010, 4:05 PM EDT) -- EBay Inc. subsidiary and online payment service PayPal Inc. has become the latest defendant to resolve Florida inventor Leon Stambler's suit accusing more than two dozen financial institutions of infringing two patents related to information security in online transactions.

Judge David Folsom of the U.S. District Court for the Eastern District of Texas on Wednesday approved the parties' joint motion to dismiss their claims and counterclaims with prejudice.

Each party will bear its own attorneys' fees, costs and expenses, according to the order. Additional details of the dismissal were not disclosed, and representatives for the parties could not be immediately reached...

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