Visa, MC, AmEx Off The Hook In Gift Card Patent Suit

Law360, New York (May 22, 2008, 12:00 AM EDT) -- A Florida company that holds patents related to prepaid gift cards has dropped infringement suits against four gift-card processors and against credit card companies American Express Co., MasterCard Inc. and Visa USA Inc. after receiving an unfavorable claims construction ruling.

Every Penny Counts Inc. stipulated to dismissal of two lawsuits on Thursday in the U.S. District Court for the Middle District of Florida in lieu of a likely appeal following a Markman hearing in which Judge Richard A. Lazzara construed the term “amount of excess cash”...
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