Envestnet, Inc. Faces FinancialApps's $100 Million Trade Secret Misappropriation Claims in Delaware Jury Trial
FinancialApps, a fintech pioneer, is pursuing a $100 million lawsuit against Envestnet (NYSE: ENV) for trade secret misappropriation, tortious interference, and unfair competition. The case is now headed to a jury trial in Delaware Federal Court. This development comes shortly after Envestnet shareholders approved a $4.5 billion acquisition by Bain Capital.
On September 26, 2024, Judge Jennifer L. Hall issued two opinions that dismissed Envestnet's defamation counterclaim against FinancialApps and denied Envestnet's motion for summary judgment on FinancialApps's claims. Kasowitz Benson Torres LLP is serving as lead counsel for FinancialApps, with Marc E. Kasowitz expressing satisfaction with the court's decisions.
FinancialApps, un pioniere nel fintech, ha intrapreso una contro Envestnet (NYSE: ENV) per appropriazione indebita di segreti commerciali, interferenza illecita e concorrenza sleale. Il caso è ora diretto verso un processo con giuria nel tribunale federale del Delaware. Questo sviluppo arriva poco dopo che gli azionisti di Envestnet hanno approvato un acquisizione da 4,5 miliardi di dollari da parte di Bain Capital.
Il 26 settembre 2024, il giudice Jennifer L. Hall ha emesso due opinioni che hanno respinto la controquerela per diffamazione di Envestnet contro FinancialApps e hanno negato la mozione di Envestnet per un giudizio sommario sulle accuse di FinancialApps. Kasowitz Benson Torres LLP funge da avvocato principale per FinancialApps, con Marc E. Kasowitz che esprime soddisfazione per le decisioni del tribunale.
FinancialApps, un pionero en fintech, está llevando a cabo una demanda de 100 millones de dólares contra Envestnet (NYSE: ENV) por apropiación indebida de secretos comerciales, interferencia ilícita y competencia desleal. El caso ahora se dirige a un juicio con jurado en el Tribunal Federal de Delaware. Este desarrollo se produce poco después de que los accionistas de Envestnet aprobaran una adquisición de 4.5 mil millones de dólares por Bain Capital.
El 26 de septiembre de 2024, la juez Jennifer L. Hall emitió dos opiniones que desestimaron la contrademanda por difamación de Envestnet contra FinancialApps y denegaron la moción de Envestnet para un juicio sumario sobre las reclamaciones de FinancialApps. Kasowitz Benson Torres LLP actúa como abogado principal para FinancialApps, con Marc E. Kasowitz expresando satisfacción con las decisiones del tribunal.
FinancialApps는 핀테크 선구자로서 1억 달러 규모의 소송을 Envestnet (NYSE: ENV)에 대해 비밀정보 유출, 불법 간섭 및 불공정 경쟁으로 제기하고 있습니다. 이 사건은 현재 델라웨어 연방 법원에서 배심원 재판으로 진행 중입니다. 이 개발은 Envestnet 주주들이 베인 캐피탈에 의한 45억 달러 인수를 승인한 직후 발생했습니다.
2024년 9월 26일, 제니퍼 L. 홀 판사는 Envestnet의 FinancialApps에 대한 명예훼손 반소를 기각했다는 두 가지 의견을 발표하고 FinancialApps의 주장에 대한 Envestnet의 요약 판결 요청을 기각했다고 밝혔습니다. Kasowitz Benson Torres LLP는 FinancialApps의 수석 변호사로 활동 중이며, 마크 E. 카조위츠는 법원의 결정에 만족스러움을 표시했습니다.
FinancialApps, un pionnier de la fintech, intente une action en justice de 100 millions de dollars contre Envestnet (NYSE: ENV) pour appropriation illicite de secrets commerciaux, interférence dolosive et concurrence déloyale. L'affaire se dirige maintenant vers un procès par jury au tribunal fédéral du Delaware. Ce développement intervient peu après que les actionnaires d'Envestnet ont approuvé une acquisition de 4,5 milliards de dollars par Bain Capital.
Le 26 septembre 2024, la juge Jennifer L. Hall a rendu deux avis qui ont rejeté la contre-plainte pour diffamation d'Envestnet contre FinancialApps et ont refusé la motion d'Envestnet de jugement sommaire sur les revendications de FinancialApps. Kasowitz Benson Torres LLP assure la représentation principale de FinancialApps, Marc E. Kasowitz exprimant sa satisfaction quant aux décisions du tribunal.
FinancialApps, ein Pionier im Fintech-Bereich, verfolgt eine Klage über 100 Millionen Dollar gegen Envestnet (NYSE: ENV) wegen Veruntreuung von Geschäftsgeheimnissen, unerlaubter Einmischung und unlauterem Wettbewerb. Der Fall befindet sich nun in einem Schöffengericht im Bundesgerichtshof von Delaware. Diese Entwicklung folgt kurz nachdem die Aktionäre von Envestnet eine Übernahme durch Bain Capital für 4,5 Milliarden Dollar genehmigten.
Am 26. September 2024 hat Richterin Jennifer L. Hall zwei Beschlüsse gefasst, die Envestnets Gegenklage auf Verleumdung gegen FinancialApps abgewiesen haben und Envestnets Antrag auf summarisches Urteil in Bezug auf die Ansprüche von FinancialApps abgelehnt haben. Kasowitz Benson Torres LLP fungiert als Hauptanwalt für FinancialApps, wobei Marc E. Kasowitz seine Zufriedenheit mit den Entscheidungen des Gerichts äußert.
- Envestnet shareholders approved a $4.5 billion acquisition by Bain Capital
- Envestnet faces a $100 million lawsuit for trade secret misappropriation, tortious interference, and unfair competition
- Envestnet's defamation counterclaim against FinancialApps was dismissed
- Envestnet's motion for summary judgment on FinancialApps's claims was denied
Insights
This lawsuit against Envestnet is significant, with potential
The timing is particularly notable, coming just after Envestnet shareholders approved a
For Envestnet, an unfavorable verdict could result in significant financial penalties and damage to its competitive position in the wealth management technology sector. Conversely, FinancialApps stands to potentially recover substantial damages if successful, which could bolster its market position.
The
Investors should closely watch how this legal battle might affect the pending
While the full financial impact remains uncertain until the trial concludes, the mere existence of such high-stakes litigation adds an element of risk that prudent investors must factor into their assessment of Envestnet's stock. The case also underscores the growing importance of intellectual property and trade secrets in the rapidly evolving fintech sector.
Kasowitz Benson Torres Is Acting As Lead Counsel For FinancialApps
On September 26, 2024, Judge Jennifer L. Hall of the United States District Court for the District of
Lead trial counsel for FinancialApps, Marc E. Kasowitz of Kasowitz Benson Torres LLP, stated: "We are pleased with the Court's well-reasoned opinions, and look forward to vindicating FinancialApps's rights at trial."
The Kasowitz Benson Torres LLP team representing FinancialApps is led by partners Marc E. Kasowitz, Matthew A. Kraus, A. Macdonald Caputo, Jr., and Joshua E. Hollander.
About Kasowitz Benson Torres LLP
Kasowitz Benson Torres LLP is a leading national law firm with a core focus on commercial litigation, complemented by exceptionally strong bankruptcy/restructuring, employment, and real estate transactional practices. Kasowitz is known for its creative, aggressive litigators and willingness to take on tough cases. The firm has extensive trial experience and is always trial-ready, representing both plaintiffs and defendants in every area of litigation. Kasowitz is committed to pursuing aggressive and innovative approaches to its clients' most challenging legal matters. Headquartered in
Contact:
Shannon O'Reilly
SOReilly@kasowitz.com
(212) 547-1290
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SOURCE Kasowitz Benson Torres LLP
FAQ
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