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Stock impact report

Wex sues HP for copyright infringement over its new software system [Yahoo! Finance]

WEX Inc. common stock (WEX) 
NASDAQ:AMEX Investor Relations: wexinc.com/payment-solutions/virtual-payments
Company Research Source: Yahoo! Finance
The federal lawsuit, filed Thursday, says that HP announced the launch of its "Workforce Experience Platform" — or WEX — a fleet management software tool that has features that are similar to what Wex provides. The companies both aim to supply businesses with innovative solutions to everyday workforce problems and they both promote their software as being customer-driven, providing data, assisting in fleet management, increasing productivity, using AI and reducing friction, Wex said in a news release. In the lawsuit, Wex said that HP's new platform also targets similar industries including automotive companies, financial institutions, major oil companies and even federal and state governments — including the state of Maine, which has contracts with both companies. Wex said HP's use of the WEX acronym will create confusion in the marketplace, either leading consumers to believe that the two companies are partnered, that HP has acquired Wex, or simply causing customers to confuse Show less Read more
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