FICO Announces DOJ Antitrust Investigation Closed

Rhea-AI Summary

On December 8, 2020, FICO announced the closure of a civil investigation by the U.S. Department of Justice (DOJ) regarding potential exclusionary conduct. The DOJ informed FICO that no enforcement action would be taken, marking a positive resolution for the company. This investigation was initially opened on March 15, 2020, and its closure alleviates potential regulatory risks for FICO. Founded in 1956 and based in Silicon Valley, FICO is a leader in predictive analytics and data science, holding over 195 patents to enhance business profitability and customer satisfaction.

Positive

• Closure of the DOJ antitrust investigation with no enforcement action, reducing regulatory risks.

Negative

• None.

SAN JOSE, Calif., Dec. 8, 2020 /PRNewswire/ --

On March 15, 2020, FICO issued a statement in response to an official notification that the U.S. Department of Justice, Antitrust Division, had opened a civil investigation into potential exclusionary conduct by FICO. 

Earlier today, the Department of Justice informed FICO that it has closed that investigation. As a result, no enforcement action is being taken.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com

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SOURCE FICO

FAQ

What was the DOJ investigating FICO for?

The DOJ was investigating FICO for potential exclusionary conduct.

When did FICO announce the closure of the DOJ investigation?

FICO announced the closure of the DOJ investigation on December 8, 2020.

What does the closure of the DOJ investigation mean for FICO?

It means that no enforcement action will be taken against FICO, alleviating regulatory risks.

When was the DOJ investigation into FICO opened?

The DOJ investigation into FICO was opened on March 15, 2020.

How many patents does FICO hold?

FICO holds more than 195 US and foreign patents.