eBay's PayPal settles Bank One suit

EBay Inc., its PayPal money transfer service, and Bank One Corp. agreed to settle two patent infringement lawsuits, eBay and PayPal said Monday.

Terms of the agreement were confidential, the companies said.

Bank One Delaware N.A. had sued PayPal, the largest U.S. online payments service, Sept. 6 in federal district court in Delaware. PayPal filed a separate lawsuit against Bank One in the same court Sept. 29.

PayPal, which is based in Mountain View, California, said it and eBay do not expect the agreement to materially affect operations or financial results.

News source: CNN/Money

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