Mitek (MITK -11.6%) closed down sharply after announcing it's suing Israel's Top Image Systems...

|About: Mitek Systems Inc. (MITK)|By:, SA News Editor

Mitek (MITK -11.6%) closed down sharply after announcing it's suing Israel's Top Image Systems for allegedly infringing 4 patents related to mobile image capture/processing. Mitek is already embroiled in a bitter dispute with ex-customer USAA - there could be worries the company, which only posted Q2 revenue of $3.2M, will see its legal bills get out of hand. (PR)