Plains Capital Settles Online Banking Patent Suit

Law360, New York (January 6, 2009, 12:00 AM EST) -- Plains Capital Corp. has become the latest financial institution to reach a license agreement with a Florida man who has sued dozens of the nation's largest banks, claiming their secure online banking services infringe his patent.

Plaintiff Leon Stambler of Parkland, Fla., and Plains Capital, along with PlainsCapital Bank, filed a stipulation for dismissal of all claims between them Monday in the U.S. District Court for the Eastern District of Texas.

The parties reached a license agreement for the asserted patent, according to Stambler's attorney Brent...
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