With all the litigation, regulatory hearings and the like facing JP Morgan Chase, this maneuver to allow the reduction inlitigationexpense appears a tad clumsy and questionable.
"Bank of America denies the allegations and is entering into this settlement to eliminate the uncertainties, burden and expense of further protracted litigation, " it said in a statement.
To be sure, we are plagued by a new species of patent litigant these days, the so-called patent troll, who buys up questionable patents in hopes of extracting payments from deep-pocketed companies eager to avoid the expense of litigation.