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Stock impact report

Teradata files suit against SAP alleging that it stole trade secrets [MarketWatch]

Teradata Corporation (TDC) 
Last teradata corporation earnings: 2/6 04:05 pm Check Earnings Report
Company Research Source: MarketWatch
Teradata files suit against SAP alleging that it stole trade secrets Cloud company Teradata Corp. TDC, +0.74% said Wednesday it has filed a lawsuit against Germany's SAP SE SAP, +0.77% for stealing trade secrets, copyright infringement and antitrust violations. "Teradata is alleging that SAP has engaged in a decade-long campaign of anti-competitive behavior, to the detriment of the parties' customers and Teradata alike," the company said in a statement. SAP "lured" Teradata into a joint venture in order to gain access to its intellectual property, while planning to steal trade secretes and use them to develop a "competing though inferior product," said the statement. The software giant then ended the venture and is now trying to persuade its customers to switch to its product, it said. "Teradata is seeking an injunction barring SAP's illegal conduct, monetary damages, and all other legal and equitable relief available under law and which the court may deem proper," said the stat Show less Read more
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