According to a report from The Verge, Adobe Systems Incorporated (NASDAQ:ADBE), Autodesk, Inc. (NASDAQ:ADSK) and Corel Corporation filed the suit on Wednesday at the United States District Court for the Northern District of California claiming infringement of intellectual property.
Forever 21, Inc., according to Adobe Systems Incorporated (NASDAQ:ADBE), has pirated its software in 63 different instances though it was unclear from the lawsuit how the company tracked the alleged infringement.
In the lawsuit, Autodesk, Inc. (NASDAQ:ADSK) is also claiming that the fashion retail company pirated its Autodesk software, among other software. Corel Corporation is claiming that its WinZip and PaintShopPro software were illegally used.
Adobe Systems Incorporated (NASDAQ:ADBE) and Autodesk, Inc. (NASDAQ:ADSK) have also revealed that they have contacted Forever 21, Inc. about the alleged piracy but the fashion brand “continued their infringing activities even after being contacted”.
The plaintiffs, claiming ongoing “repeated and irreparable injury,” are seeking an unspecified amount for statutory damages, actual damages and any profits derived from the alleged infringement activities and related legal fees.
It looks like even determining the amount which will be paid by Forever 21, Inc. would be a long process as the plaintiffs write, “It would be difficult to ascertain the amount of money damages that would afford Plaintiffs adequate relief at law for Defendants’ continuing acts and omissions complained of herein, and a multiplicity of judicial proceedings would be required.”
Stephen Mandel’s Lone Pine Capital owned about 11.47 million Adobe Systems Incorporated (NASDAQ:ADBE) shares by the end of September, 2014. The stake makes up 3.1% of Lone Pine Capital’s whole portfolio and is a 4% decrease in the firm’s stake in the software maker quarter over quarter.
Eric W. Mandelblatt’s Soroban Capital Partners owned about 11.92 million Autodesk, Inc. (NASDAQ:ADSK) shares by the end of the same month, a 31% increase quarter over quarter. The stake makes up 4.94% of Soroban’s whole portfolio.