Rocket Cos. Unit Faces $175 Million Trade Secrets Verdict (1)

A San Antonio jury delivered a verdict against Amrock Inc., a Rocket Cos. subsidiary, for misappropriating HouseCanary Inc.'s trade secrets valued at $175 million and related to its real estate valuation technology.

The jury found that Amrock breached a 2013 nondisclosure agreement and a 2015 software license contract that forbid Amrock from reverse engineering or otherwise misusing HouseCanary’s confidential information, according to a verdict form filed March 6 in Texas state court. Amrock also defrauded and acted with malice when it promised to grant a license to HouseCanary to use its historical appraisal data, the jury said.

The jury also ...