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Westlaw News

Envestnet, Yodlee seek dismissal of privacy lawsuit over financial data collection

Envestnet and its financial technology subsidiary Yodlee have asked a federal magistrate judge in California to toss a proposed class action over alleged “surreptitious” collection and use of consumers’ financial information.

In separate motions to dismiss the lawsuit filed on Wednesday, Yodlee argued the plaintiffs fail to state a claim for their “grab bag” of claims under various federal and state laws, and Envestnet asserted that its parent status alone isn’t enough to establish the court’s personal jurisdiction over the company.

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