Wealthcare Capital Management Settles Patent Infringement Lawsuit with PIEtech, UBS Financial

Submitted by patentadmin on Tue, 11/13/2012 - 21:09

November 13, 2012 - Last December, we wrote a blog post about the lawsuit between Wealthcare Capital Management and UBS Financial Services over patented financial planning processes. PIEtech, the maker of the MoneyGuidePro software that UBS was using and which Wealthcare claimed infringed its patents, also joined the lawsuit at the end of last year in order to help defend its client, UBS.

Now the lawsuit has been settled to the satisfaction of all parties. Terms were not disclosed, but Wealthcare's CEO David Loeper says the settlement means "our patents are now valid...We and our licensees will be the ones that are able to use those patents.”

The patents relate to a method of preparing clients for "future market instability," according to Loeper.