Calypso Says Financial Firm Copied Its Software Without Paying

Financial software company Calypso says a former client that offers financial risk management services used Calypso’s proprietary product for a decade without a paid subscription.

Calypso’s parent company Adenza Inc. is suing The Risk Management Group (Suisse) SA in the US District Court for the Northern District of California for copyright infringement, among other claims, according to a complaint filed Monday.

Calypso and RMG entered into a software license and services agreement in 2006 granting RMG the right to use Calypso products in exchange for an annual fee, the complaint says. The agreement ended in 2012 when RMG said ...