VeriFone Takes $15.4M Hit In CardSoft Patent Verdict

Law360, New York (June 12, 2012, 7:34 PM EDT) -- VeriFone Inc. is expected to pay $15.4 million in damages after a Texas federal jury found that the company's secure payment processing technology infringed patents owned by rival CardSoft Inc., according to information filed with the U.S. Securities and Exchange Commission on Monday.

A jury in the Eastern District of Texas ruled June 8 that electronic point-of-sale systems manufactured and sold by the California-based VeriFone infringed on two patents owned by CardSoft. CardSoft, also located in California, brought the suit against VeriFone and five other companies...
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