Citigroup Settles With Inventor Over Phone Banking

Law360, New York (January 3, 2006, 12:00 AM EST) -- Financial services company Citigroup Inc. has settled a patent infringement lawsuit brought by pioneering inventor Ronald A. Katz, who boasts a wide-ranging portfolio that has already earned him more than $1 billion.

The lawsuit, filed in July by patent-holding firm Ronald A. Katz Technology Licensing LP, claims Citigroup and a swath of other defendants are infringing ten patents for automated telephone systems, used in a variety of now-common business methods.

The complaint was filed in the U.S. District Court for the Eastern District of Texas and...
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