Tech company accuses BofA of illegally copying $300m of software

Bank Of America Corner Signs

Bank of America illegally copied $300m worth of Tibco's enterprise software for use in a massive IT project at its Merrill Lynch subsidiary, Tibco alleges in a lawsuit.

TechWorld reports that the bank stockpiled large quantities of Tibco software while it was still within the terms of a license agreement that expired in February 2013, then used the software for the project when it was out of license, according to the suit.

As of Tuesday, Bank of America hadn't filed a response to Tibco's suit, which was filed last month in the U.S. District Court for the Northern District of California. But a spokesman said the bank had done nothing wrong.

'We have a long history of positive relationships with our third party partners', spokesman Mark Pipitone said via email. 'In accordance with that, we have acted in good faith to observe the scope of Tibco's license at all times, and we intend to vigorously defend ourselves'.

To access the complete TechWorld article hit the link below:

Bank of America illegally copied $300 million in software, alleges Tibco lawsuit

 

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