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The Federal Court of Canada in Toronto, Ontario is adjudicating Verify
Smart Corp.’s (“Verify”) suit against Equitable Bank, the eighth largest bank in Canada, for infringing Verify’s Canadian Patent No. 2,664,680, entitled “System and Method for Verifying a Users Identity in Electronic Transactions”, in violation
of Section 55 of the Canadian Patent Act.
Verify has retained Dickinson Wright LLP to represent Verify in a legal proceeding against Equitable Bank in Canada (Statement of Claim issued by the Federal Court of Canada in May, 2021) for alleged patent infringement in respect of Canadian Patent No. 2,664,680, entitled “A System And Method For Verifying A User's Identity In Electronic Transactions.”
Verify is seeking a remedy from Equitable Bank for allegedly infringing acts under section 55 of the Patent Act, RSC 1985, section P-4, as amended.
Dickinson Wright LLP is one of Canada's leading full-service business law firms specializing in cross-border and Canadian counsel. Yuri Chumak, Partner at Dickinson Wright LLP in Toronto, Canada, specializes in intellectual property matters, stated, “we look forward to proving the allegations of infringement raised in Verify’s Statement of Claim and to defending the validity of the 680 Patent.”
As stated on its corporate website, Equitable Bank manages $45 billion in assets and is a wholly-owned subsidiary of EQB Inc. Equitable Bank was founded in 1970 as The Equitable Trust Company and has become Canada’s eighth largest Schedule I bank.
Verify has completed discovery in its action against Equitable Bank for
infringing Verify’s Canadian Patent No. 2,664,680. Verify believes that the case
will have a successful resolution.
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