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FactSet wins lawsuit filed by Ashbury Heights Capital

FactSet Research Systems Inc. said a court sided with the financial data and software company in a lawsuit over alleagtions of breach of contract, fraud, and breach of confidence.

Ashbury Heights Capital LLC, an investment management and research company, sued FactSet in the Superior Court of the State of California, claiming that it should pay Ashbury approximately $100 million perpetual royalties on all sales of FactSet Supply Chain data and for its technology's ongoing value of use to FactSet.