Overview

• Fintiv’s new suit, brought by Kasowitz LLP in the Northern District of Georgia, accuses Apple of violating the Defend Trade Secrets Act and both federal and state RICO statutes.
• The complaint states Apple entered nondisclosure agreements with CorFire in 2011–2012 to license secure element, NFC and trusted service management technology but instead exploited the information and recruited key employees before unveiling Apple Pay in 2014.
• Fintiv alleges that Apple formed an association-in-fact enterprise with major banks and payment processors—including JPMorgan Chase, Citigroup, Visa and Mastercard—to generate billions in fees through Apple Pay.
• Following a Texas judge’s August 4 dismissal of Fintiv’s related patent infringement case, the company has vowed to appeal that ruling and refocus its claims on broader racketeering and trade secret counts.
• The lawsuit seeks compensatory and punitive damages under RICO and trade secret laws, and the Georgia complaint has not yet appeared in public court records