JCPenney (JCP), Home Depot (HD) Victorious in Patent Infringement Suit
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Retailers JCPenney (NYSE: JCP) and Home Depot (NYSE: HD) won't need to pay out large sums of money stemming from a patent infringment suit.
Bloomberg reported today that the duo, along with Toys 'R' Us, won a suit against Alexsam over branded gift cards. The plaintiff was looking for royalties of $250 million from the trio, claiming they infringed on patents covering the activation and recharging of stored-value gift cards.
Alexsam dropped that case after a judge in Eastern Texas said he wouldn't delay an October 22nd trial so that the company could find new lawyers. It wasn't made clear why the lawyers were dismissed.
Alexsam also tried suing Barnes & Noble (NYSE: BKS) and Gap (NYSE: GPS) for $72 million and $34.5 million, respectively. Both companies won later verdicts.
All suits were filed in 2010.
Bloomberg reported today that the duo, along with Toys 'R' Us, won a suit against Alexsam over branded gift cards. The plaintiff was looking for royalties of $250 million from the trio, claiming they infringed on patents covering the activation and recharging of stored-value gift cards.
Alexsam dropped that case after a judge in Eastern Texas said he wouldn't delay an October 22nd trial so that the company could find new lawyers. It wasn't made clear why the lawyers were dismissed.
Alexsam also tried suing Barnes & Noble (NYSE: BKS) and Gap (NYSE: GPS) for $72 million and $34.5 million, respectively. Both companies won later verdicts.
All suits were filed in 2010.
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