Fair Isaac Corp. (FICO) has expressed to an Illinois federal judge that customers who have revised their lawsuit claiming the company monopolizes the credit scoring market are yet to sufficiently bolster their earlier deficient allegations. Furthermore, FICO contends that the terms of its licensing agreements with major credit bureaus effectively nullify the lawsuit.
In an effort to amend their claims, customers earlier were granted permission to reintroduce their lawsuit alleging monopoly trends by FICO in the credit scoring sector. Their revised appeal, however, according to FICO, failed to comprehensively address gaps that had curtailed their initial allegations, rendering it equally deficient.
Adding another layer to the legal tangle, FICO argues that the conditions in its licensing agreements with prominent credit bureaus render the reinstituted lawsuit futile. Despite the allowed amendments, the lawsuit, from FICO’s perspective, appears to hit a dead end given the contractual agreements already in place with the major credit bureaus.
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