PlusFunds Sues Standard & Poor Over Copyright

Law360, New York (July 21, 2006, 12:00 AM EDT) -- Bankrupt hedge fund manager PlusFunds Group Inc. has sued Standard & Poor’s, alleging the popular financial data publisher breached a license agreement when it axed its hedge fund index that was stocked with PlusFunds’ data.

PlusFunds wants the court to enforce a provision of the parties’ 2001 license agreement that would, according to PlusFunds, require S&P to hand over the index’s copyright and other intellectual property for $1.

The adversary proceeding was filed in the U.S. Bankruptcy Court for the Southern District of New York, where...
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