Bank and Inventor Probe Patent Ownership in Texas Law Firm Cases

CIBC Bank USA told a Texas federal judge a prolific patent attorney and his client AuthWallet LLC didn’t have the authority to file lawsuits against it concerning a method for financial transactions on mobile devices.

CIBC Bank argued AuthWallet didn’t conduct an adequate pre-suit investigation into the ownership of US Patent No. 8,099,368 before asserting it, according to a motion to dismiss filed Thursday in the US District Court for the Western District of Texas. The bank said the ownership inconsistencies are “very similar circumstances” as another case in the same court involving the same individual who controls the LLC ...