JPMorgan Dealt Setback in Bid for $69 Million From DataTreasury

JPMorgan Chase Bank NA lost its appeal at the Fifth Circuit Aug. 23 of a ruling rejecting its subpoenas and requests for information about assets it says Data Treasury Corp. hid to avoid a paying a $69 million patent judgment.

The dispute stems from JPMorgan’s claim that DTC reneged on its promise to give the bank retroactive discounts on the $70 million it paid to use check imaging patents if they were later licensed for less. A federal judge ruled for JPMorgan based on a 2012 license issued for $250,000, though the bank insisted that one was only one of ...