A prior decision in favor of the VantageScore has been upheld by a federal appeals court.
Fair Isaac Corp., now known as FICO, filed a lawsuit in October 2006 against Equifax Inc., Experian Information Solutions Inc., TransUnion LLC and VantageScore Solutions LLC. The complaint, filed in U.S. District court for the District of Minnesota, alleged that the three credit agencies violated their contracts with FICO by developing a competing credit scoring model.
In June 2008, FICO dropped Equifax Inc. from the lawsuit.
In July 2009, the district court dismissed FICO’s antitrust, false advertising and breach of contract claims.
In a decision Wednesday, the Eighth Circuit Court of Appeals unanimously ruled in favor of Experian and upheld the July 2009 decision, Experian said in a statement.
“FICO filed this meritless case for the sole purpose of eliminating the powerful competition introduced by VantageScore in the credit scoring marketplace and impeding industry innovation,” the statement said. “Every one of FICO’s claims has been repeatedly rejected by the courts.”
The appeals court also upheld a 12 person jury’s unanimous rejection of FICO’s trademark claims at trial, Experian said.
“Of critical importance was the jury’s finding that FICO’s alleged ‘300-850’ score-range trademark was obtained through fraud on the United States Patent & Trademark Office,” the announcement stated.