SoFi, Carricarte Resolve Participant Feedback Patent Dispute

A SoFi Technologies Inc. unit resolved a dispute with Carricarte IP Licensing LLC after attempting to invalidate its patent.

Social Finance LLC said Louis Carricarte sent demand letters through his non-practicing entity to the SoFi subsidiary, alleging infringement of US Patent No. 10,949,866. Social Finance then sued in September in the US District Court for the Eastern District of Pennsylvania to invalidate Carricarte’s patent and ask the court for a declaratory judgment of noninfringement. The parties agreed to dismiss the case with prejudice Monday and pay their own attorneys’ fees and costs.

• The disputed patent ‘886 relates to a ...