Jury tells US Bank to pay $27m over cheque imaging patent infringements

Jury tells US Bank to pay $27m over cheque imaging patent infringements

US Bank has been ordered by a jury to pay Texas-based DataTreasury $27 million over cheque processing technology patent infringements.

DataTreasury has taken numerous companies to court over what it claims are violations of its patented technology for capturing and storing images of written cheques, designed by the firm's founder Claudio Ballard.

Over the last few years it has settled with JP Morgan, PNC and Diebold among others.

For the first time a jury has now found the patents valid, with US Bank told by a court in Marshall, Texas last week that it should pay the vendor $27 million.

DataTreasury has two more cases set to be held this year, against Bank of America and Wells Fargo, which could cost the defendants a combined $1 billion, according to Bloomberg.

U.S. Bancorp Told by Jury to Pay $27 Million to DataTreasury - Bloomberg

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