Citigroup, JPMorgan Face Online Payment Patent Suit

Law360, New York (June 1, 2011, 1:43 PM EDT) -- Patent-holding company Purple Leaf LLC filed a lawsuit Tuesday in Texas federal court against a group of financial industry titans, including Citigroup Inc. and JPMorgan Chase & Co., alleging infringement of a patent covering online payments.

Plano, Texas-based Purple Leaf claims that its patent — U.S. Patent Number 7,603,311 — covering a process for making efficient payments over the Internet has been infringed by the financial services and data management firms. In addition to Citigroup and JPMorgan, the complaint names American Express Co. and business solutions...
To view the full article, register now.