SBA Wants Stay On Simparel Lifted To Protect Copyright

Law360, New York (January 2, 2014, 6:30 PM EST) -- The U.S. Small Business Administration asked a New York federal judge on Thursday to lift a stay on private-equity-backed Simparel Inc., so the agency can pursue litigation against former Simparel employees who posted the company's financial management software on a competitor's website.

According to the SBA's memorandum, lifting the stay in the case is necessary to protect L Capital Partners SBIC LP affiliate Simparel, which would otherwise be in danger of suffering substantial injury if its former employees continue to post its software online.

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