Source: MoneyGram International
MoneyGram International (NYSE:MGI), a global leader in the payment services industry, announced today that the U.S. District Court for the Western District of Texas, Austin Division, yesterday returned a verdict in a suit brought by Western Union, finding MoneyGram infringed on certain patents relating to enabling customers to send transactions without the use of written send forms, and awarding $16.5 million dollars to Western Union.
"Clearly, we are disappointed with the jury's verdict. We are evaluating the decision, determining next steps required, and reviewing our legal options, including post-verdict motions and appeals," said Carolyn Eshleman, vice president and associate general counsel at MoneyGram International.