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Friday, May 24, 2024 | Back issues
Courthouse News Service Courthouse News Service

Court Denies Wells Fargo’s Motion To Nix Patent Suit

WASHINGTON (CN) - The Federal Circuit refused to dismiss a lawsuit accusing Wells Fargo and other major banks of infringing on patents held by DataTreasury Corp. for electronic check-clearing technology.

DataTreasury acquired the patents in 2006 from e-Banc and WMR e-Pin, which previously licensed them to Wells Fargo and other banks.

The three-judge panel ruled that DataTreasury is not bound by the arbitration clause in the licensing agreements, because the provision applied to the original parties only.

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