UBS Sued Over Financial Planning System Patents

Law360, New York (August 9, 2011, 7:14 PM EDT) -- UBS Financial Services Inc. was sued Monday in New York federal court by a financial advisory firm claiming it infringes two patents for a financial modeling system.

Financeware Inc., doing business as Wealthcare Capital Management, and its intellectual property licensing arm, Wealthcare Capital Management IP LLC, argue that UBS has utilized the two patents without permission.

“UBS' financial planning advice and reports compete directly with Wealthcare's financial planning software and systems, causing damages and irreparable harm to Wealthcare,” the complaint said.

The patents-in-suit relate to a...
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