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Mealey's Trade Secret - Judge Finds Application Developer's Trade Secrets Suit Untimely

NEW YORK - A federal judge in New York on Jan. 16 awarded summary judgment to Bloomberg Finance L.P., Bloomberg L.P., and Bloomberg Inc. (collectively, Bloomberg) in a lawsuit brought by the developer of an application for assessing investor sentiments by analyzing social media posts under the Defend Trade Secrets Act of 2016 (DTSA), ruling that the action was barred by the one-year statute of limitations that was contained in a developer agreement executed by the parties in 2014 (iSentium LLC v. Bloomberg Finance L.P., et al., No. 17-cv-7601, S.D. N.Y., 2020 U.S. Dist. LEXIS 7808).
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