Bloomberg Says UBS Misused Proprietary Data

Law360 (July 13, 2018, 5:13 PM EDT) -- Bloomberg Finance LP hit UBS AG with a suit in New York federal court Thursday accusing the bank of violating an agreement that bars it from redistributing proprietary data through its portfolio analysis and risk management software.

Bloomberg, which seeks to stop the alleged misuse of its financial market data, claims UBS broke multiple licensing agreements when its portfolio analysis and risk management system, known as UBS Delta, was acquired by another portfolio management service, which gained third-party access to Bloomberg's data without a license.

"UBS, like all Bloomberg customers, cannot convey Bloomberg's highly valuable, proprietary data directly to its own...

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