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Entrepreneurial firm hits Envestnet with $100-million lawsuit for alleged Yodlee 'Trojan Horse' scheme used to steal proprietary technology

Owner of FinancialApps -- and his famous lawyer -- charge in court papers the Chicago-based outsourcer feigned interest in being a long-term software partner but misappropriated a data app; Injunction and damages sought that would be 'very bad' outcome, analyst says

Author Brooke Southall
July 31, 2019 at 4:02 AM
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Bob Sullivan's firm claims Yodlee used a partnership agreement as a 'Trojan Horse' to take his technology

Related Moves

Behind the scenes, Envestnet's board of directors had much to tussle over before finally subtracting the 'interim' from Bill Crager's CEO title

With Jud Bergman gone at a chairman, a power struggle ensued to fill that spot, and the process dragged when taking the company private came under review

April 2, 2020 at 2:34 AM

Envestnet nabs Dani Fava to cross-pollinate semi-autonomous units and reap 'financial wellness' as the end product

The Chicago outsourcer has a massive, partially disconnected arsenal of products that CEO Bill Crager is rationalizing into 'wellness' with yet another new unit.

July 23, 2020 at 1:42 AM



August 1, 2019 — 4:39 AM
This suit isn't going anywhere. Maybe... Envestnet will increase their "purchase price" to make this go away. More likely not though. Proving violation of unpatented IP, that is often not terribly complex and often fairly obvious when you get under the hood, isn't likely to work for the plaintiff. More likely Envestnet decided they could simply build it themselves, they know how it needed to work, so they did.

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