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J.C. Penney, Home Depot Defeat $250 Million Case Over Gift Cards

J.C. Penney Co., Home Depot Inc. and Toys ‘R’ Us Inc. won lawsuits in which the owner of patents for branded gift cards was seeking $250 million from the retailers.

Alexsam Inc. dropped the suits today after a federal judge in Marshall, Texas, wouldn’t delay an Oct. 22 trial so the company could find new lawyers. The retailers won’t pay any money, and agreed not to seek sanctions and attorneys fees from Alexsam unless it asserts the patents against them or their partners in the future.