Bank One, Bank One Delaware and PayPal Dismiss Lawsuits.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 20, 2003 Bank One Corporation, Bank One Delaware, N.A. (formerly known as First USA Bank, N.A.), eBay (Nasdaq:EBAY), and PayPal today announced that they have reached an agreement to their mutual satisfaction to dismiss the two lawsuits currently pending between the parties. On September 6, 2002, Bank One Delaware filed suit against PayPal in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. , District of Delaware alleging patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. . On September 29, 2003, PayPal filed suit against Bank One Corporation in the United States District Court, District of Delaware alleging patent infringement. The specific terms of the agreement are confidential. eBay and PayPal do not expect the agreement to have a material impact on their results of operations or financial positions. Bank One Corp. and Bank One Delaware do not expect the agreement to have a material impact on their results of operations or financial positions. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains a forward-looking statement within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statement is based upon the current beliefs and expectations of the respective companies' management, and is subject to risks and uncertainties that may cause actual results of the companies to differ materially. Such risks and uncertainties are described in the respective reports of Bank One Corp. and eBay Inc. filed with the Securities and Exchange Commission, including their most recent annual reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and their quarterly reports on Form 10-Q Form 10-Q See 10-Q. . The forward-looking statement above is based on information available to the respective companies on the date hereof, and the companies assume no obligation to update such statements. About PayPal Founded in 1998, PayPal, an eBay Company, enables any individual or business with an email address See Internet address. to securely, easily and quickly send and receive payments online. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and utilizes the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has more than 35 million account members and is available to users in 38 countries around the world. More information about the company can be found at https://www.paypal.com/. About eBay eBay is The World's Online Marketplace(R). Founded in 1995, eBay created a powerful platform for the sale of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world. |
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