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Sears Settles Litigation With Card Processor


Chicago Card Activation Technologies said Tuesday that it has settled its lawsuit against Sears Holding Corp. The terms of the settlement are confidential.

The company, which owns a patented technology that processes gift cards, phones cards and other stored-value-card transactions, claimed that many retailers, including Sears, as well as gas stations and phone companies have infringed on its proprietary patent.

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