USAA, Wells Fargo Reach Settlement In $300M Patent Case

Law360 (February 16, 2021, 3:05 PM EST) -- Wells Fargo has agreed to settle a $300 million patent dispute brought by the United States Automobile Association over mobile check deposit technology, according to a recent filing.

After juries in the Eastern District of Texas found that Wells Fargo infringed patents owned by USAA for depositing checks through mobile devices, the parties said Friday that they have reached a "settlement in principle" to resolve the allegations in the cases between them.

Although details of the agreement were not immediately available, a spokesperson for Wells Fargo told Law360 in an email Tuesday that the parties' deal fully resolves the litigation and...

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