Court Order Clears Way for Consumer Credit Scoring Trial
2009年7月27日 - 9:00PM
ビジネスワイヤ(英語)
In a case brought by FICO (NYSE:FIC) claiming trademark
infringement, misleading consumer advertising and unfair
competitive tactics by Experian, TransUnion and VantageScore
Solutions, the United States District Court in Minneapolis has
denied the defendants’ motions to dismiss FICO’s trademark
infringement, unfair competition and passing off claims, clearing
the way for the case to be brought to trial later this year.
“This suit is about two things: fairness and consumer
protection,” said Mark Greene, chief executive officer at FICO. “At
a time when consumers most need clarity regarding their
creditworthiness, it’s imperative that they understand whether or
not the credit scores they purchase are industry-standard FICO®
scores, or merely lookalike “educational” scores not actually used
by lenders to make lending decisions.”
FICO is the developer of the industry-standard FICO® score,
which is used by the vast majority of lenders to make credit
decisions. Consumers have several ways of viewing their own FICO
score, including through the myFICO.com website, which also
contains free information about how to manage one’s credit
health.
FICO has long maintained that advertising and other methods used
by Experian, TransUnion and VantageScore Solutions deliberately
confuse consumers into purchasing other, little-used credit scores
under the false belief that they are FICO® scores, or that the
scores they buy from these companies are used by their lenders to
make credit decisions – neither of which is the case.
These little-used educational scores generally differ
significantly from a consumer’s actual FICO® score, often
misleading consumers into believing they have higher or lower FICO
scores, and thus creditworthiness, than is actually the case. At a
time when many consumers are struggling to understand their
creditworthiness and obtain credit, such deception can be extremely
harmful.
In addition to denying the defendants’ motions for dismissal of
FICO’s trademark infringement, unfair competition, and passing off
claims, the Court granted the defendants’ motions for dismissal of
other antitrust, contract, and certain false advertising claims.
With respect to the antitrust claims, the Court’s finding was
largely based on VantageScore’s lack of adoption in the lending
marketplace, and thus a lack of any injury to FICO. Because the
decision was based on FICO’s lack of injury, the Court did not rule
on the legality of VantageScore. The Court noted that there may be
a claim that VantageScore constitutes an illegal presence in the
market, but held that FICO’s lack of injury precluded it from
pursuing its claim at this time. FICO believes strongly in the
merits of each of its claims, including that VantageScore remains
an illegal presence in the market, and will continue to pursue
these claims through an appeal following the upcoming trial.
About FICO
FICO (NYSE:FIC) transforms business by making every decision
count. FICO’s Decision Management solutions combine trusted advice,
world-class analytics and innovative applications to give
organizations the power to automate, improve and connect decisions
across their business. Clients in 80 countries work with FICO to
increase customer loyalty and profitability, cut fraud losses,
manage credit risk, meet regulatory and competitive demands, and
rapidly build market share. FICO also helps millions of individuals
manage their credit health through the www.myFICO.com website. Learn more about
FICO at www.FICO.com.
FICO Statement Concerning Forward-Looking Information
Except for historical information contained herein, the
statements contained in this news release that relate to FICO or
its business are forward-looking statements within the meaning of
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially, including the success of the Company’s Decision
Management strategy and reengineering plan, the maintenance of its
existing relationships and ability to create new relationships with
customers and key alliance partners, its ability to continue to
develop new and enhanced products and services, its ability to
recruit and retain key technical and managerial personnel,
competition, regulatory changes applicable to the use of consumer
credit and other data, the failure to realize the anticipated
benefits of any acquisitions, continuing material adverse
developments in global economic conditions, and other risks
described from time to time in FICO’s SEC reports, including its
Annual Report on Form 10-K for the year ended September 30, 2008,
and its quarterly report on Form 10-Q for the period ended June 30,
2009. If any of these risks or uncertainties materializes, FICO’s
results could differ materially from its expectations. FICO
disclaims any intent or obligation to update these forward-looking
statements.
FICO is a registered trademark of Fair Isaac Corporation.
Fair Isaac (NYSE:FIC)
過去 株価チャート
から 5 2024 まで 6 2024
Fair Isaac (NYSE:FIC)
過去 株価チャート
から 6 2023 まで 6 2024