Principia Partners Loses Trade Secrets Row With Licensee

By Dean Seal (September 26, 2019, 7:02 PM EDT) -- Financial software company Principia Partners LLC will have to take its allegations that Swap Financial Group LLC breached a licensing contract to state court, a New York federal judge ruled Thursday in tossing its trade secrets claim.

U.S. District Judge Analisa Torres dismissed a lawsuit in which Principia accused Swap, a bond and swap adviser, of underreporting the revenue it derived from using Principia's swap valuation software and thereby underpaying Principia to license the software in the first place.

Judge Torres said her jurisdiction over five state-law claims in the suit was premised on a sole federal claim for misappropriation of...

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