PrizePicks Sued After Former Vetnos Employee Allegedly Leaked Trade Secrets

PrizePicks is the subject of a lawsuit that alleges it stole technology for prop-style fantasy sports games. Vetnos LLC, a business-to-business (B2B) provider of fantasy sports technology, filed a trade secret misappropriation and patent infringement complaint on Tuesday in Georgia.

wants royalties, interest on lost profits, and extra damages

Vetnos claims that the fixed-odds fantasy technology that PrizePicks uses is identical to its own patented software. The New York-based company wants royalties, interest on lost profits, and extra damages. It claims that it warned PrizePicks CEO Adam Wexler on numerous occasions about possible copyright infringement. Vetnos believes that a former worker at its predecessor Game Sports Network, who went to PrizePicks as a consultant, helped copy the technology.

PrizePicks Chief Legal Officer and Head of Public Policy Jason Barclay issued a statement in response to the lawsuit, saying that for years, Vetnos unsuccessfully tried to get the company to buy its intellectual property and technology. Barclay labeled the legal action as “frivolous” and the company plans to “aggressively defend against this lawsuit and point out its many errors and outright falsehoods.”