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Analytics company sues Nationstar for allegedly stealing trade secrets


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Analytics company sues Nationstar for allegedly stealing trade secrets

Hawaii-based Collateral Analytics LLC is suing Nationstar Mortgage Holdings Inc.'s Nationstar Mortgage LLC and indirect subsidiaries Quantarium LLC and Xome Settlement Services LLC for allegedly misappropriating trade secrets.

Collateral Analytics alleged that Nationstar Mortgage LLC and Xome Settlement Services, which have been its customers since 2013, gave its technology, confidential information and trade secrets to Quantarium. Collateral Analytics also alleged that the two companies then ordered Quantarium to replicate its products, and that Nationstar and Xome have used the "knock-offs" to replace its products and will soon offer them to third-party customers.

Collateral Analytics also accused the defendants of breach of contract, false advertising and violation of the Computer Fraud and Abuse Act. It is seeking damages, an injunction to stop the defendants from further misusing or disclosing confidential information and advertising Quantarium's "knock-off" products.

In a regulatory filing, Nationstar said it would pursue a vigorous defense.