LML Settles Litigation With Wells Fargo

LML Patent Corp., a wholly-owned, indirect subsidiary of LML Payment Systems Inc. LMLP announced today that it has received payment in the amount of $5,000,000 and has entered into a Settlement and License Agreement with Wells Fargo Bank, N.A. with respect to litigation filed by LML in the U.S. District Court for the Eastern District of Texas alleging that Wells Fargo infringed U.S. Patent No. RE40,220.