American Deposit Management Sued for Patent Infringement for $30 Million

eTradeWire News/10529239
MANHASSET, N.Y. - eTradeWire -- NEW YORK-- Island Intellectual Property LLC ("Island IP"), an affiliate of Double Rock Corp., today filed a federal lawsuit against American Deposit Management, LLC

of Pewaukee, Wisconsin, for willful patent infringement. The suit was filed in the U.S. District Court for the Eastern District of Wisconsin as ISLAND INTELLECTUAL PROPERTY LLC, Plaintiff, - against – AMERICAN DEPOSIT MANAGEMENT, LLC, dba THE AMERICAN DEPOSIT MANAGEMENT CO.,, Defendant.

According to John Dellaportas, Partner and Co-Chair of the Litigation Department at Emmet, Marvin and Martin, LLP in New York and counsel to the plaintiff: "As set forth in the Complaint, the defendant has willfully infringed Island IP's intellectual property rights.  The complaint seeks $30 million in damages."

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Island IP is a wholly owned subsidiary of Double Rock Corp. and a patent holding company with approximately 60 patents covering various cash management aspects of banking and financial services.

Double Rock Corp. is a leading cash management and financial technologies company providing some of the world's most innovative cash management and cash-related solutions to multiple industries.

Bruce Bent II

Source: Double Rock Corp.
Filed Under: Banking

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