Monday, March 3, 2014

Leon Stambler Files Patent Suit against Banks over Secure Transactions

Case Filed: Feb 26, 2014

Court: Florida Southern District Court

Judge: Robert N. Scola, Jr.

Case Summary:
Leon Stambler, who owns a portfolio of patents relating to secure online transactions has sued five different banks for patent infringement in the Southern District Court of Florida. The suits named defendants including: Popular, Inc., Banco Popular de Puerto Rico, BMO Harris Bank National Association, Synovus Bank, The Huntington National Bank and Bank United and National Association.

The patent at issue is US5793302, entitled ‘Method for securing information relevant to a transaction’, legally issued on Aug 11, 1998 and expired[i] by Nov 17, 2012. The patent was owned by Leon Stambler, the sole inventor of the ‘302 patent.  The invention concerns a method and apparatus for authenticating documents, records and objects as well as the individuals who are involved with them or responsible for them.

The complaints are identical and claims “defendants have directly infringed claims of the ‘302 patent by performing secure online transactions initiated using Banco Popular’s secure online banking products and/or services accessible through their interactive online website(s). The infringing products include: Popular Online Banking and My Online Banking, BankUnited Online Banking, BMO Harris Online Banking, Synovus Online Banking and Huntington Online Banking.

In its prayer for relief, it seeks judgment that ‘302 patent was infringed and the Court to declare this an exceptional case and award attorney’s fees and costs.

Stambler has an extensive history of litigation against financial institutions such as Ally Financial, Capital One, the Federal Reserve network of banks, etc.

See 0:14-cv-60485 for more details. To get alerts on cases filed/closed, subscribe to our Litigation Alerts.

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[i] Expected expiration date. Patent Term Estimator is a free web-based tool that automatically calculates patent terms and expiration dates for U.S. utility patents.

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