Yipit has initiated a legal battle against former employees and the rival firm M Science, alleging the theft of its trade secrets. At the annual BattleFin conference, this dispute overshadowed discussions about new AI tools in the alternative data sector. Yipit accuses M Science and its leadership of complicity in the intellectual property theft, as they seek to expand litigation. In response, M Science has countered with its own lawsuit, illustrating the intense competition and potential legal ramifications for the alternative data industry as it continues to grow.
Yipit's new filing seeks to add M Science and its CEO as defendants, alleging their involvement in the theft of trade secrets by two former employees.
M Science then countersued Yipit, claiming the rival stole its intellectual property, highlighting growing tensions in the competitive alternative data industry.
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