U.S. Bank loses check-imaging patent verdict
From Bloomberg.com:
U.S. Bancorp, Minnesota’s largest bank, should pay $27 million for infringing patents related to digital checks owned by DataTreasury Corp., a jury in Texas said Friday.
The trial is the first of three on DataTreasury’s infringement claims that may lead to more than $1 billion in damages against the banking industry.
The patents relate to the imaging of checks, their transmission and their storage in a central repository.
U.S. Bancorp denied infringing the patents. The company’s lawyers had no comment on the verdict.
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