JPMorgan Files a Lawsuit Accusing TransUnion Subsidiary of Stealing Trade Secrets

Banking giant JPMorgan & Chase JPM.N has filed a lawsuit in Delaware federal court accusing TransUnion’s TRU.N Argus Information and Advisory Services of misappropriating JPMorgan’s trade secrets to unlawfully bolster its business.

The complaint filed Tuesday accused Argus of misusing confidential credit card data it obtained while serving as a data aggregator for federal financial regulators to support its “lucrative” analytics work.

The U.S. Department of Justice announced last week that Argus would pay $37 million to settle related allegations from the federal government.

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