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Lightkeeper sues Arcana Analytics over alleged trade secret theft

Lightkeeper filed the complaint in the US District Court for the District of Massachusetts, alleging Arcana used screenshots from August that resembled Lightkeeper’s confidential reporting dashboards.

Reported · Written up by our desk · Fund Industry

Lightkeeper, a provider of portfolio intelligence and analytics software for investment managers, has filed a federal lawsuit against Arcana Analytics, alleging trademark infringement and trade secret misappropriation, according to Hedgeweek.

The complaint, filed in the US District Court for the District of Massachusetts, says Arcana published website screenshots in August that closely resembled the structure and content of Lightkeeper’s confidential reports and dashboards, including specific report sections and analytical relationships.

Lightkeeper claims the reporting structures were developed over more than 15 years based on client requirements and that they are protected through contractual confidentiality provisions, nondisclosure agreements, and technical safeguards, Hedgeweek reported.

The company also alleges Arcana began promoting a competing portfolio analytics application using a specific tagline, and it says the phrase differs from its own.

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