Check-Imaging Patent Owner Ducks $15B Fraud Suit
The NYS Supreme Court dismissed a $15 billion lawsuit against DataTreasury Corp and its founder Claudio Ballard brought by a purported investor who claimed he was defrauded out of profits the company made by licensing its check imaging technology to major banks. Scott Mollen, counsel to Mr. Ballard and other defendants, said he was "gratified that the court carefully weeded through the 433-paragraph complaint and concluded that every single claim should be dismissed." He also noted that the decision "paved the way" for the dismissal of the pending claims against the banks by the defendant.