U.S. Court of Appeals 3rd Circuit: Verify Smart Corp. v. Bank of America, N.A. et al., No. 21-2353

The U.S. Court of Appeals for the Third Circuit (“3rd Circuit”) recently

denied Verify Smart Corp.’s (“Verify”) request for a panel rehearing or a rehearing en banc of the 3rd Circuit’s affirmance of the U.S. District Court for the District of New Jersey’s dismissal of Verify’s complaint against Bank of America, N.A. and

Wells Fargo N.A. (“The Banks”), two of the largest banks in the world, each of which is considered “too big to fail”.

Verify sued the Banks for having had its agent challenge the validity of

Verify’s U.S. Patent No. 8,285,648, entitled “System and Method for Verifying a

User’s Identity in Electronic Transactions," in contravention of agreements in

which The Banks released all their claims against Verify to settle separate patent

infringement suits Verify had filed against each of The Banks before they filed the

challenge.

The 3rd Circuit also denied Verify’s request to make such ruling

precedential. Not surprisingly, the 3rd Circuit failed to provide any analysis or rationale for either of its rulings, which continue the longstanding and ongoing bias of many federal courts that favor Big Tech and its allies, e.g., Big Banks, at the expense of small rivals like Verify Smart Corp.

Verify plans to continue pursuing its options.

Verify is being and has been represented in these matters by Jean-Marc Zimmerman of Zimmerman Law Group, Steven M. Hoffberg of Hoffberg & Associates, and Kevin H. Marino of Marino, Tortorella & Boyle, P.C.

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