#lawsuit-settlement

#lawsuit-settlement

The lawsuits, which centered on claims that two employees stole trade secrets from one rival and passed them on to another, rocked the alternative data world. These firms have grown in scale and revenue as hedge funds and asset managers use their datasets to find differentiated intel to inform bets. Yet, it remains a relatively small industry where everyone knows everyone.

Per a press release from the plaintiffs, Anthropic is supposed to fork over $3,000 for each work covered in the settlement, of which there are something like 500,000. If over 500,000 works' owners file, they'll pay those, too. If under 500,000 works are filed for, their authors could get more for them. All in, the settlement is about $1.5 billion, plus interest.

Contreras said Singh was so shaken by the encounter that his attorneys pushed the judge to declare a mistrial on the grounds that Morales was trying to intimidate a party to the case. After the judge declined to grant their motion, the two sides agreed to settle for an unspecified amount of money, Contreras said. Larger settlements require a final sign-off from the City Council.