Bank of America illegally copied US$300 million worth of Tibco’s enterprise software for use in a massive IT project at its Merrill Lynch subsidiary, Tibco alleges in a lawsuit.
The bank stockpiled large quantities of Tibco software while it was still within the terms of a license agreement that expired in February 2013, then used the software for the project when it was out of license, according to the suit.
As of Tuesday, Bank of America hadn’t filed a response to Tibco’s suit, which was filed last month in the U.S. District Court for the Northern District of California. But a spokesman said the bank had done nothing wrong.
“We have a long history of positive relationships with our third party partners,” spokesman Mark Pipitone said via email. “In accordance with that, we have acted in good faith to observe the scope of Tibco’s license at all times, and we intend to vigorously defend ourselves.”
Tibco’s lawsuit provides a detailed narrative of Bank of America’s alleged wrongful deeds.