Capital One Exits LML's Payment Processing IP Suit

Law360, New York (September 15, 2011, 12:42 PM EDT) -- Capital One NA on Wednesday settled out of LML Patent Corp.'s Texas suit accusing it and a number of others of infringing a patent related to electronic payment systems.

Capital One and affiliate Capital One Services LLC join the likes of HSBC Holdings PLC, which agreed in March to pay $5.5 million to end its role in the suit. The terms of the Capital One deal were not disclosed, though each party agreed to pay its own costs.

LML originally sued 19 defendants for patent infringement...
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