CIBC Bank Wins Dismissal of Texas Mobile Transaction Patent Suit

CIBC Bank USA convinced a Texas federal judge to dismiss a patent infringement suit over mobile transaction technology because a previous assignment of the patent was void and the plaintiff lacks standing to sue.

AuthWallet LLC doesn’t have standing to assert US Patent No. 8,099,368 because the patent assignment to it was void, Judge David Counts ruled Dec. 4, adopting a magistrate judge’s recommendation to dismiss the case.

AuthWallet asserted the patent against CIBC, Cullen/Frost Bankers Inc., The PNC Financial Services Group Inc., and Fiserv Inc. in March 2024 in the US District Court for the Western District ...