NEW YORK and SAN JOSE, Calif., July 11, 2006 (PRIMEZONE) -- CashEdge Inc. (www.cashedge.com), a provider of online financial applications, today announced that the Honorable Susan Ilston of the United States District Court for the Northern District of California has issued an opinion in litigation involving Yodlee Inc. and CashEdge Inc. pertaining to certain of Yodlee's patents.
"CashEdge is delighted that the court has confirmed its construction of certain key claims in the Yodlee patents," said CashEdge CEO Sanjeev Dheer. Several of the Yodlee claims were considered by the court to be limited to the specific embodiments of the Yodlee implementations, which confirms CashEdge's view that the Yodlee patents do not cover the CashEdge products. "Based on the court's decision, CashEdge continues to believe that it does not infringe any valid claim asserted by Yodlee and expects to prevail in this litigation," he added.
Markman hearings are typically held prior to the commencement of a patent infringement trial to determine the meaning of certain words or phrases in the claims of the patent in question. At this Markman hearing the court construed key disputed terms in certain of the Yodlee patents.
In a separate litigation pending in the United States District Court for the District of Delaware, CashEdge has sued Yodlee for patent infringement of its patent, entitled Method And Apparatus For Retrieving And Processing Data.
About CashEdge
CashEdge(r) provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. With CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge serves more than 450 leading financial institutions, including such leading institutions as Bank of America, Citibank, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
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