USAA and Mitek Settle Lawsuit

USAA and Mitek today announced that they have agreed to settle all pending litigation between them.

USAA and Mitek Systems have been in litigation since March 29, 2012. Over the past several days, the parties have met and conferred in good faith concerning the claims remaining for trial. As a result of this discussion, the parties have agreed to resolve these claims as follows:

• USAA will move to dismiss all of its remaining claims, including its claims for misappropriation of trade secrets, breach of contract, fraud, inequitable conduct, and invalidity of Mitek's patents.
• Mitek will move to dismiss all of its remaining claims, including its claims for trade defamation and violations of the Lanham Act. Mitek covenants not to sue USAA for patent infringement for products currently sold, marketed, or advertised by USAA, including its Deposit@Mobile application.
• The parties acknowledge that distinct patent rights exist for each of them.
• Neither party admits liability on any claim, and neither party is making any payment to the other.
• USAA is retaining its license to use Mitek’s Quick Strokes, Quick FX Pro, and Image Score software products.

About USAA

The USAA family of companies provides insurance, banking, investments, retirement products and advice to 10.4 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.

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