Acacia Research (ACTG) Subsidiary Settles Patent Dispute with The Hertz Corporation (HTZ)
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Acacia Research Corporation (Nasdaq: ACTG) announced that its Financial Systems Innovation LLC subsidiary has entered into a settlement agreement covering a patent that applies to credit card fraud protection technology with The Hertz Corporation (NYSE: HTZ). This resolves a dispute that was pending before the United States District Court for the Northern District of Georgia.
The patented technology generally relates to a computerized system for protecting retailers and consumers engaged in credit card, check card, and debit transactions. The system includes an electronic card reader, and the generation and use of a transaction number, which specifically identifies each transaction processed within the system.
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