Wealthcare Capital Management, UBS Financial Services and PIEtech, Inc. Announce Resolution of Patent Litigation

Resolution of Patent Litigation

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Richmond, VA (PRWEB) November 08, 2012

Wealthcare Capital Management, Inc., Wealthcare Capital Management IP, LLC, UBS Financial Services Inc., and PIEtech, Inc. announced today the settlement of the patent infringement lawsuit brought by Wealthcare. Any payment terms and other terms of the settlement are confidential.

The lawsuit was filed by Wealthcare for infringement of its U.S. Patent Nos. 7,765,138 and 7,991,675 by UBS for use of systems that included PIEtech’s MoneyGuidePro software. PIEtech joined in the suit and both PIEtech and UBS denied liability and brought counterclaims of invalidity and non-infringement. The lawsuit was pending in the U.S. District Court for the Southern District of New York.

The case is captioned Financeware, Inc. d/b/a Wealthcare Capital Management and Wealthcare Capital Management IP, LLC v. UBS Financial Services Inc. and PIEtech, Inc., Case No. 11-cv-5503 (JFK) (S.D.N.Y.)

About Wealthcare Capital Management
Based in Richmond, Virginia, Wealthcare Capital Management is powering the future of financial advising through a unique suite of asset management and advising services. Wealthcare’s patented, goal-based advising approach allows advisors to give their clients measurable confidence in exceeding their goals without unnecessary sacrifice to their lifestyle, while avoiding undue investment risk. This process has been made available to third party advisors and financial advisory firms in an all-inclusive, low-cost and highly tax-efficient Unified Managed Household (UMH) program. Information about the company’s advisory services is available online at http://www.wealthcarecapital.com. Founded in 1999, the company is privately held.
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