Patents Invalidated That Cost Banks $350 Million in Settlements
April 29, 2015
Bloomberg BNA
On April 29, the Patent Trial and Appeal Board (PTAB) invalidated two check-processing patents held by DataTreasury Corp., resulting in a win for Finnegan client Fidelity National Information Services. DataTreasury has enforced their patents against banks and financial institutions for many years, collecting over $350 million in legal settlements. Fidelity challenged the patents and the PTAB ruled that the patents do not cover an invention and therefore not eligible for protection.