Truist, Zions in legal battle over ATM memory patents.

TLDR:

• Truist and Zions Bancorporation are being sued for patent infringement by InnoMemory LLC over ATM memory technology.
• The lawsuits allege that the banks’ ATMs use methods for a random access memory integrated circuit.

Truist Financial Corp. and Zions Bancorporation NA are facing lawsuits from InnoMemory LLC over patents related to memory technology used in bank ATMs. The complaints were filed in the US District Court for the Eastern District of Texas, with InnoMemory alleging that the ATMs of Zions subsidiary Amegy Bank of Texas and Truist infringe on US Patent Nos. 6,240,046 and 7,057,960. The ‘046 patent covers a method for a random access memory integrated circuit. InnoMemory’s patent-assertion campaign targets the use of memory technology in various devices, and these lawsuits are the latest in a series of legal actions taken by the company. Truist and Zions will need to defend themselves against the allegations of patent infringement and potentially face legal consequences if found guilty.