Wells Fargo, BofA Beat Suit Over PTAB Challenge

Law360 (June 23, 2021, 4:30 PM EDT) -- A New Jersey federal judge has let Wells Fargo and Bank of America out of a software company's racketeering case alleging the banks used an industry group to successfully invalidate a digital banking authentication patent at the Patent Trial and Appeal Board even though the banks had promised not to challenge the patent.

In a ruling that was made available Tuesday, U.S. District Judge John Michael Vazquez rejected, with prejudice, the latest effort from Verify Smart Corp. to revive the lawsuit it lodged in 2017 against Wells Fargo N.A., Bank of America N.A. as well as current and former members of...

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