Inventor-controlled NPE Banks Two More Cases
- October 1, 2015
Inventor-controlled St. Isidore Research, LLC added two more financial institutions, Ally Financial (2:15-cv-01549) and United Services Automobile Association (2:15-cv-01550), to its only litigation campaign, bringing the total number of defendants to eight. St. Isidore is an inventor-controlled NPE formed in Texas in 2014. The NPE filed four complaints against four banks (Comerica, Frost Bank, LegacyTexas Group, and Southside Bank) on August 3, 2015 and has since filed four more, again targeting financial services institutions (Amegy Bank and Texas Capital Bank in addition to Ally and USAA). The complaints assert one patent (7,904,360) against all eight defendants, with a second patent (8,589,271) asserted against all defendants except Comerica and Frost Bank. Allegations of infringement focus on identity and transaction verification within each defendant’s online and mobile banking services.