The Texas jury in a second lawsuit brought by USAA against Wells Fargo also determined that Wells Fargo had willfully infringed on USAA’s remote deposit capture (RDC) technology patents. The first lawsuit – with a different jury – resulted in $200 million in damages; this most recent decision orders Wells Fargo to pay an additional $103 million in damages.The first lawsuit dealt with autocapture technology, while this one dealt with broader patents, including the technology that reads the check to verify the routing/account numbers and the information submitted by the consumer.While Wells Fargo has not formally requested an appeal in either lawsuit, the bank in December filed a motion with the U.S. District Court for the Eastern District of Texas asking the court to stay the judgement in the first case pending any post-judgment motions. While the bank still has not indicated whether it will appeal that decision, in another sealed motion, Wells Fargo has asked for a new trial in the first case. No motions have been made in the second case.NAFCU is also monitoring a request from the vendor that provides Wells Fargo, and thousands of other financial institutions, with RDC technology for a federal judge in California to issue judgment that its technology does not infringe on USAA’s patents. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »
Press Association Barry Geraghty steered Minella Foru to a lucrative victory in the ultra-competitive Paddy Power Chase at Leopardstown. Folsom Blue got rolling late to deny Gilgamboa third place. Prolific mare Ballychorus was still in with every chance when falling at the final fence, bringing down the fancied Sumos Novios, who looked beaten at the time. Minella Foru’s victory completed a double on the day for Harty following Copy That’s success under Kennedy in the previous race. It was a third winner of the afternoon for McManus at the track. Harty said: “The ground was a bit slower than he wants, but his class came through in the finish, although I wouldn’t like him to be going another furlong. “We have been planning this for a while. He was unlucky to be touched off at Fairyhouse the last day, but it’s probably worked out in our favour. “He’s never gone three miles before but he travelled well and Barry gave him a peach of a ride. He said that he would leave it late, but I didn’t think he would leave it that late! “I would not be averse to letting him take his chance in novice chases given that he has that experience. “It’s a lovely race to win and my biggest win in prize-money terms over fences. It’s been a great couple of days with three winners from three runners.” Carrying the colours of JP McManus, Eddie Harty’s six-year-old was a 7-1 shot for the three-mile contest, with the leading owner also responsible for heavily-backed favourite Gilgamboa, among others. Those who joined in the gamble on 4-1 market leader Gilgamboa will have been happy enough rounding the home turn, with crack conditional Jack Kennedy sitting confidently in the lead. However, he was claimed by both Ucello Conti and Minella Foru after the final fence and it was the latter who found most for pressure to score by a length and a half.