May 5, 2010 / 9:12 PM / 10 years ago

Bigdough sues Goldman Sachs over copyright, data

NEW YORK, May 5 (Reuters) - The owners of the institutional investor database sued Goldman Sachs Group Inc (GS.N) on Wednesday, accusing the company of theft of information and copyright infringement.

The lawsuit, filed in U.S. District Court in New York by Ipreo Holdings LLC, accused Goldman employees of 264 incidents of unauthorized access to the computer database in 2008 and 2009.

“This unauthorized access was done by defendants with the intention to steal, copy, use and/or solicit contacts and coverage information taken from the database and to use such information in furtherance of Goldman’s business interests,” the complaint said.

Ipreo is seeking compensatory damages of more than $1 million and punitive damages of $2 million, and it wants Goldman to account for all profits and advantages from the infringement it claims in the lawsuit.

According to the complaint, at least two Goldman employees “repeatedly used an Ipreo login name and password from multiple computers registered to Goldman’s offices.” Ipreo wants Goldman to identify any employees or others affiliated with Goldman who obtained unauthorized access to Ipreo’s computer servers.

Goldman Sachs spokesman Ed Canaday said in an emailed statement: “We believe the claims are entirely without merit and we will contest the suit vigorously.”

The case is Ipreo Holdings LLC v Goldman Sachs, U.S. District Court for the Southern District of New York, No. 10-3702. (Reporting by Grant McCool)

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