Investment Database Pays $2.5M To Settle Suit

Law360, New York (June 19, 2008, 12:00 AM EDT) -- Discovery, a database company operated by The Financial Information Group Inc., has agreed to pay $2.5 million to put to rest defamation counterclaims arising from a trade secret misappropriation and breach of contract suit it launched against rival RIA Database last year.

Discovery’s suit, filed in April 2007 in the U.S. District Court for District of New Jersey, accused RIA founder and President Julie Cooling of stealing data and intellectual property from Discovery, RIA said in a statement Wednesday.

The complaint alleged claims of breach of...
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