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.

Court Denies Wells Fargo’s Motion To Nix Patent Suit

Read the Top 8

Additional Reads