BofA Reaches Deal In Secure Transaction IP Suit

Law360, New York (June 11, 2010, 1:25 PM EDT) -- Bank of America NA has joined the growing list of defendants to exit Joao Bock Transaction Systems of Texas LLC's suit accusing more than a dozen banks and communications companies of infringing a patent related to secure credit card transactions.

The parties filed a motion Thursday in the U.S. District Court for the Eastern District of Texas to dismiss all claims with prejudice and all counterclaims as moot.

BofA and Joao Bock cited a patent licensing and settlement agreement, but declined to provide further details of...
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