Special Letter to Customers
Higher One, Inc. alleges patent infringement over disbursements of student refunds.
On February 27, 2009, Higher One, Inc. filed suit against TouchNet in the U.S. District Court in Connecticut, alleging that TouchNet has infringed a patent just issued to Higher One, Inc. on February 24, 2009, 3 days before the lawsuit was filed.
The patent deals expansively with a "computer-readable medium, having computer-executable instructions for facilitating a transfer of a refund amount from an educational institution to a student" - a description which, if valid, could encompass much of the electronic refund software in the industry.
We believe that the patent is invalid and we will be vigorous in our defense of the lawsuit. We expect the outcome to be favorable, both for us, and, indirectly, for our clients and the industry as a whole, assuring competition based on products and services instead of competition in the courtroom.
TouchNet brought this to the attention of our customers by sending them a letter on March 16. To view the full letter, click on the link below.
March 16, 2009
Special Letter to Customers
Higher One, Inc. alleges patent infringement over disbursements of student refunds.
On February 27, 2009, Higher One, Inc. filed suit against TouchNet in the U.S. District Court in Connecticut, alleging that TouchNet has infringed a patent just issued to Higher One, Inc. on February 24, 2009, 3 days before the lawsuit was filed.
The patent deals expansively with a "computer-readable medium, having computer-executable instructions for facilitating a transfer of a refund amount from an educational institution to a student" - a description which, if valid, could encompass much of the electronic refund software in the industry.
We believe that the patent is invalid and we will be vigorous in our defense of the lawsuit. We expect the outcome to be favorable, both for us, and, indirectly, for our clients and the industry as a whole, assuring competition based on products and services instead of competition in the courtroom.
TouchNet brought this to the attention of our customers by sending them a letter on March 16. To view the full letter, click on the link below.
March 16, 2009