JPMorgan Settles Patent Suit Over Check Imaging Technology

Law360, New York (July 6, 2005, 12:00 AM EDT) -- A closely held company that invented a technology for electronically capturing and storing check images agreed Wednesday to settle a patent infringement lawsuit it had brought against JPMorgan Chase & Co., but immediately launched a series of new lawsuits against Bank of America, Citigroup, Wachovia and Wells Fargo.

Under the terms of the settlement, DataTreasury Corp. said it had granted JPMorgan a license to use the patents involved.

Financial terms were not disclosed. DataTreasury had been seeking “billions of dollars” in compensation, including punitive damages because...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.