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Court Increases DataTreasury’s Jury Award to More than $60 Million in Patent Case against U.S. Bank

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Court Increases DataTreasury’s Jury Award to More than $60 Million in Patent Case against U.S. Bank Powered By Docstoc
					Court Increases DataTreasury’s Jury Award to
More than $60 Million in Patent Case against U.S.
Bank
September 29, 2010 07:03 AM Eastern Daylight Time  

PLANO, Texas--(EON: Enhanced Online News)--DataTreasury Corporation, a Texas-based check-processing
company, announced today that its $27 million jury award in DataTreasury Corp. v. U.S. Bank, et al., has been
increased to more than $60 million by the court which heard the case.

The jury that heard the case in March 2010 awarded DataTreasury nearly $27 million in damages after finding that
Minneapolis-based U.S. Bank and banking-industry service providers Viewpointe and The Clearing House had
jointly infringed the company’s two check-imaging patents. The jury found that U.S. Bank and Viewpointe had
infringed the patents willfully.

On September 27, 2010, the U.S. District Court for the Eastern District of Texas (Marshall Division) ruled that the
U.S. Bank jury award should be doubled and supplemented with interest payments, bringing the total award to more
than $60 million. In its ruling, the court stated that the enhanced award was granted “to more effectively punish the
willful infringement found by the jury.” According to the court, these new damages will be shouldered entirely by
U.S. Bank.

Since filing its first patent-infringement lawsuit in 2002, DataTreasury has argued that the U.S. banking industry has
deliberately and systematically infringed U.S. Patent Nos. 5,910,988 and 6,032,137, which were awarded to
Claudio Ballard, the company’s founder, in 1999 and 2000 for image capture, centralized processing, and electronic
storage of document and check information. These patents cover technology which is used in the implementation of
the Check Clearing for the 21s t Century Act (“Check 21”) and which enables banks to save billions of dollars
annually in check-processing costs.

JPMorgan Chase, Wells Fargo, Citibank, and dozens of other major financial institutions have agreed to license
DataTreasury’s intellectual property. JPMorgan Chase is among those banks which have not only publicly
acknowledged the validity of these patents, but also admitted having infringed them.

DataTreasury is scheduled to go to trial on October 12, 2010, against Bank of America, LaSalle, and SunTrust.
Alleged damages in this trial total more than $1 billion. The case will be heard by the same court that heard the U.S.
Bank trial.

About DataTreasury Corporation

A privately owned company, DataTreasury was formed in 1998 and is built around an extensive patent portfolio,
which includes patents covering its Global Repository Platform, the world’s most functional and secure informational
management system. Several countries have recognized the patentability of this technology, and DataTreasury has
many other pending patent applications surrounding this system. For further information on DataTreasury, please visit
www.datatreasury.com.

Contacts
DataTreasury Corporation
Eric Wetzel, 512-474-7514
eric@shipleyassociates.com
Permalink: http://eon.businesswire.com/news/eon/20100929005484/en/DataTreasury/DTC/U.S.-Bank

				
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Description: PLANO, Texas--(EON: Enhanced Online News)--DataTreasury Corporation, a Texas-based check-processing company, announced today that its $27 million jury award in DataTreasury Corp. v. U.S. Bank, et al., has been increased to over $60 million. img border='0' title='Add to Google' alt='Ad
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