Financial services company USAA and mobile imaging software solutions provider Mitek Systems settled a long-standing legal battle this week centered on remote deposit capture technology, with neither company accepting liability or making any kind of payment.
The two entities have been in litigation since March 2012. Initially, San Antonio-based USAA Bank filed a lawsuit claiming that Mitek appropriated its trade secrets and technology when developing its mobile RDC system. Shortly thereafter, in April 2012, Mitek filed a countersuit claiming that USAA infringed upon five Mitek patents relating to image capture on mobile devices, and that USAA breached the parties' license agreement by using Mitek products beyond the scope of the agreed-upon license terms.
Now, the two sides have agreed to resolve the concurrent claims, according to statements from both companies. USAA said it will move to dismiss all of its remaining claims, including its claims for misappropriation of trade secrets, breach of contract, fraud, inequitable conduct, and invalidity of Mitek's patents. Meanwhile, Mitek will also move to dismiss all of its remaining claims, including for trade defamation and violations of the Lanham Act, and said it will not sue USAA for patent infringement for products currently sold, marketed, or advertised by USAA.
USAA also said it is retaining its license to use Mitek's Quick Strokes, Quick FX Pro, and Image Score software products.
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Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio