Ally Financial Inc. has filed suit against Santander Consumer USA Inc. for allegedly stealing trade secrets and confidential information to create Chrysler Capital, a private-label financing unit developed with Chrysler Group LLC in May.
Ally’s complaint alleges that “as part of its lending business, SCUSA has taken and improperly used forms that are nearly identical to Ally’s copyrighted forms, including adding ‘Chrysler Capital’ to the forms and falsely claiming them as a copyrighted works of SCUSA.” It also notes that SCUSA hired several Ally employees who had access to trade secrets, including one who, when he left, “took Ally’s Retail Procedures Manual, which is a comprehensive guide detailing how Ally conducts its consumer financing business, including Ally’s consumer related plans and programs, aftermarket products, underwriting, and contract purchasing guidelines.”
Ally contends that the money in dispute is “well over $75,000,” but does not assign a specific dollar amount for damages.
Chrysler mentioned the lawsuit, filed Sept. 13 in the U.S. District Court for the Eastern District of Michigan, in its S-1 filing this week. On page 40 of the 396-page SEC filing, Chrysler notes that Ally alleged “breaches of copyright and misappropriation of trade secrets in connection with SCUSA’s entry into the arrangement with us and provision of financing solutions to our dealers and retail customers.”
