logo
Plus   Neg
Share
Email

Mitek Systems Responds To USAA Lawsuit Allegations

Mitek Systems (MITK) believed that it will soon demonstrate in court, USAA's Deposit Mobile product infringes Mitek's patented technology for mobile deposit applications.

In a lawsuit filed on March 29, 2012, USAA sought a declaratory judgment that it did not infringe five Mobile Deposit patents issued to Mitek Systems.

USAA also alleges that Mitek took information, put it into a patent application, launched a product, and concealed these events from USAA. Mitek believes it will demonstrate that USAA's trade secret allegations are demonstrably false.

Mitek believes that the evidence will ultimately show that Mitek's engineers independently developed its Mobile Deposit software and related patents based on Mitek's own ideas.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. (AMZN) Thursday reported a first-quarter profit that more than doubled from a year ago, driven largely by a huge 46 percent growth in revenues. Shares of the online retailer gained 6 percent in extended session. Seattle, Washington-based Amazon reported first-quarter profit of $1.63... Software giant Microsoft Corp. (MSFT), Thursday reported an increase in profit for the third-quarter that trumped analysts' estimates, driven largely by strong growth in cloud business, as the software giant continues its transition from key software business to cloud business. Redmond, Washington-based... Shares of Deutsche Bank were losing around 2 percent in German trading after the banking giant reported lower profit and revenues in its first quarter with weakness in all segments, mainly Corporate & Investment Bank. Separately, the bank announced actions to reshape its Corporate & Investment Bank and additional cost-cutting measures, including job cuts.
Follow RTT