NetSpend Corporation Presents at 25th Annual Card Forum and Expo, Apr-08-2013 11:00 AM. Venue: Boca Raton Resort & Club, Boca Raton, Florida, United States. Speakers: Michael Gray, VP, Operations.

A jury found that NetSpend Corp. breached a license agreement with Alexsam Inc., awarding the latter $18 million in royalties. That amount does not include prejudgment interest or attorneys' fees, which NetSpend Holdings estimates could approximate an aggregate of $6.0 million. In October 2007, Alexsam sued NetSpend Corp. in a Texas court, asserting breach of a 2004 license agreement. The companies entered the license agreement following a patent infringement dispute in 2003. NetSpend Holdings asserted counterclaims against Alexsam for breach of contract. In October 2010, Alexsam filed an amended petition, adding a claim that NetSpend fraudulently induced Alexsam to give up its prior patent infringement claims against NetSpend and enter into the license agreement. NetSpend Holdings was unsuccessful in its attempt to get partial summary judgment on Alexsam's fraudulent inducement claim. On April 26, the court granted Alexsam's motion for a directed verdict on the question of whether the contract terminated by its own terms in March 2005. Such a termination would have resulted in royalties ceasing to accrue after the termination date. The trial concluded April 27.

The Bancorp Bank announced that it has begun issuing prepaid cards with NetSpend Corporation. The two companies are announced card programs for 7-Eleven, HEB Grocery Stores and PayPal. These three programs have launched in the past six months and have been very well received in the market. For Bancorp, the agreement with the company offers yet another avenue for consumers to gain exceptional access to cards issued by Bancorp. The NetSpend Visa Prepaid Debit Card and NetSpend H-E-B Visa Prepaid Debit Card are issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The PayPal Prepaid MasterCard card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.