LML Patent Corp. a wholly-owned, indirect subsidiary of LML Payment Systems Inc. LMLP, announced today that it has agreed to terms regarding entering into a Settlement and License Agreement with Deutsche Bank DB Trust Company Americas with respect to litigation filed by LML in the U.S. District Court for the Eastern District of Texas alleging that Deutsche infringed U.S. Patent No. RE40,220.
The terms of the Agreement provide Deutsche with a fully paid-up license to certain LML patents for electronic check conversion transactions including "ARC," "WEB," "POP," "TEL" and "BOC." Deutsche has agreed to pay LML $450,000 in connection with the Agreement.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in