Insurer Told To Pay $26M In Software Trade Secrets Row

Law360, New York (October 17, 2011, 9:56 PM EDT) -- Security Mutual Life Insurance Co. of New York was ordered to pay $26 million to another insurance agency on Thursday after it was found liable for unfair competition and misappropriating trade secrets related to software that stores information from remote locations into one database.

The judgment against Security Mutual and its subsidiary Archway Technology Services Inc. came five years after North Carolina-based Member Services Inc. first filed the suit, which stemmed from a 2003 collaboration between Member Services and Security Mutual in which the two agreed...
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