Intellectual Ventures is among the world’s largest patent-holders—maybe the biggest—and the company is very good at wringing money out of its IP. But the ever-expanding patent aggregator didn’t look so intimidating on Wednesday, when Matthew Moore of Latham & Watkins and Robert Angle of Troutman Sanders derailed its litigation campaign against the banking industry.
Siding with Angle and Moore, a federal judge in Virginia dismissed what remained of an infringement case Intellectual Ventures brought against their client, Capital One Financial Corp. The ruling also augers well for a slew of other banks, including Bank of America Corp., JPMorgan Chase & Co. and PNC Financial Services Group Inc., which are also facing patent claims from IV.
