SharePrizePicks is currently facing a legal battle after being accused of obtaining trade secrets from a former employee of Vetnos. The lawsuit alleges that PrizePicks stole technology related to prop-style fantasy sports games.
According to Vetnos, PrizePicks' fixed-odds fantasy technology is remarkably similar to their patented software. Vetnos, a business-to-business provider of fantasy sports technology, has filed a complaint for trade secret misappropriation and patent infringement in Georgia. They are seeking royalties, interest on lost profits, and additional damages. Vetnos claims to have previously warned PrizePicks CEO Adam Wexler about potential copyright infringement. They suspect that a former employee of their predecessor, Game Sports Network, who later became a consultant for PrizePicks, played a role in replicating the technology.
PrizePicks' Chief Legal Officer and Head of Public Policy, Jason Barclay, responded to the lawsuit by dismissing it as baseless. Barclay stated that Vetnos had unsuccessfully attempted to sell their intellectual property and technology to PrizePicks for a long time. He labeled the legal action as frivolous and assured the company would vigorously defend against the allegations, pointing out the alleged errors and falsehoods in the lawsuit.
