A Texas-based company has filed a lawsuit against Apple, accusing the tech giant of stealing its technology to develop the widely used mobile payment system Apple Pay. The complaint, made public on Thursday, alleges that Apple misappropriated trade secrets after holding confidential discussions with the firm over a decade ago.
Fintiv, based in Austin, stated that Apple held multiple meetings in 2011 and 2012 with CorFire, a mobile wallet technology company that Fintiv later acquired in 2014. According to the lawsuit, Apple signed nondisclosure agreements with CorFire to explore licensing its technology but instead allegedly used the information to create Apple Pay, which launched in 2014.
The complaint claims Apple “lured away” CorFire employees to help develop its payment system, which is now used in hundreds of millions of iPhones, iPads, Apple Watches, and MacBooks. Fintiv also accused Apple of running an “informal racketeering enterprise” by generating fees for major banks and payment networks, including Bank of America, Visa, and Mastercard, through Apple Pay.
“This is a case of corporate theft and racketeering of monumental proportions,” the lawsuit stated, alleging that Apple profited “billions of dollars” without compensating Fintiv. The company’s lawyer, Marc Kasowitz, called it “one of the most egregious examples of corporate malfeasance” in his 45-year legal career.
The lawsuit, filed in a federal court in Atlanta, seeks damages under trade secret and anti-racketeering laws, including the RICO Act. Apple is the sole defendant in the case.
This legal battle follows a recent dismissal of a separate patent infringement lawsuit filed by Fintiv against Apple in Texas. Court records indicate Fintiv plans to appeal that decision.
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