Pi-Net International Sues Two More Banks
Pi-Net International [NPE] filed two separate suits against Bridge Bank and Focus Business Bank. The complaints are not yet available, but recent Pi-Net filings have alleged that real-time two-way transaction systems operated in connection with Web banking services offered by financial services companies infringe two patents related to Web-based transactions. Pi-Net has filed over 15 prior suits since March 2012 against defendants including Avis, Bank of America, Capital One, Enterprise, ING Bank, JP Morgan Chase, Merrill Lynch, and UBS Financial. Dr. Lakshmi Arunachalam is the president of Pi-Net and has been the named inventor on the patents-in-suit asserted in previous cases. 9/24, Northern District of California, assigned to Magistrate Judge Paul Singh Grewal, 5:2012cv04958; 5:2012cv04959.