maria luz calibo
Sep 23, 2011

Pressing Its Patent, Tiny LML Taps Financial Titans for More Than $40 Million

In the course of a three-year legal war over a patent related to automated clearing house processing, LML Payment Systems Inc. has wrung at least $40.5 million out of some of North America’s biggest financial institutions, including Citigroup Inc., PayPal Inc., and HSBC Holdings PLC, and reinforced its claim on central ACH e-check codes. Since filing its infringement suit in November 2008, Vancouver, British...