NEW YORK: IR services firm CCBN.com made a public announcement last week that it was suing Thomson Corporation and its financial information subsidiary Thomson Financial, for unfair business practices.
The suit's main complaint, published in a five-page press release, is that Thomson used confidential information gained at CCBN board meetings to compete against the company. Thomson holds two seats on CCBN's board of directors as a result of its 10% stake in the firm.
In recent months, both of Thomson's directors have quit due to tension on the board, but the company is yet to relinquish its right to the directorships.
CCBN seeks financial damages and restrictions on Thomson's ability to compete with it.
"Thomson categorically denies the allegations, read Thomson's response to the suit, "and intends to vigorously defend itself against this baseless claim."