On the eve of going to trial, Morningstar Inc. has reached a preliminary settlement in an intellectual property lawsuit brought by Business Logic Corp., a 401(k) managed accounts software company.
A trial that had been scheduled to start Monday in Chicago to determine if Morningstar illegally replicated software owned by Business Logic has been called off.
Business Logic in 2009 filed a lawsuit against Morningstar for breach of contract and misappropriation of trade secrets. It requested compensatory damages of $64.3 million.
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