Cloud company Teradata said Wednesday it has filed a lawsuit against Germany’s SAP for stealing trade secrets, copyright infringement and antitrust violations.
“Teradata is alleging that SAP has engaged in a decade-long campaign of anti-competitive behavior, to the detriment of the parties’ customers and Teradata alike,” the company said in a statement. SAP “lured” Teradata into a joint venture in order to gain access to its intellectual property, while planning to steal trade secretes and use them to develop a “competing though inferior product,” said the statement.
The software giant then ended the venture and is now trying to persuade its customers to switch to its product, it said. “Teradata is seeking an injunction barring SAP’s illegal conduct, monetary damages, and all other legal and equitable relief available under law and which the court may deem proper,” said the statement.
The suit has been filed with the US District Court of the Northern District of California. Teradata shares were not active premarket, while SAP shares were slightly higher.
Full Content: Market Watch
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
