BofA, Wells Fargo Win Antitrust Appeal Over ID Software Patent

Bank of America Corp. and Wells Fargo & Co. escaped antitrust litigation over claims they engineered an industry group’s patent challenge as an end run around a settlement, when a federal appeals court in Philadelphia rejected the allegations Wednesday.

The US Court of Appeals for the Third Circuit ruled for the banks in an unpublished opinion by Judges Stephanos Bibas, Theodore A. McKee, and L. Felipe Restrepo. The ruling upheld a decision by Judge John M. Vazquez, who threw the case out of a federal district court in Newark, N.J.

The lawsuit, filed in 2017, targeted the two banks, industry ...