HOUSTON — An Indian risk management company is suing a Puerto Rican competitor and CEO, alleging breach of software development and a trading contract.
Arya Risk Management Systems, Pvt. Ltd of Pune, India, filed a lawsuit Dec. 7 in the Houston Division of the Southern District of Texas against
Dufossat Capital Puerto Rico, LLC and Ashton Soniat,
alleging violation of the Copyright Act.
According to the complaint, in November 2015, Arya Risk entered into a contract with the defendants to develop a trading program. The suit says the plaintiff suffered monetary damages for not receiving the agreed-upon percentage of the profits.
The plaintiff alleges the defendants developed and maintained a secret program to duplicate the trades recommended by Arya Risk and were secretly cutting the plaintiff's 30 percent share of the profits.
Arya Risk Management Systems seeks trial by jury, an order permanently enjoining the defendants from infringing the plaintiff's copyrighted trading program, actual damages, statutory damages of no more than $150,000 per act of infringement, attorney fees, court costs and all other proper relief. It is represented by attorney Eric D. Pearson of Heygood Orr & Pearson in Irving.
Houston Division of the Southern District of Texas Case number 4:16-cv-03595