11:53 AM EDT, 03/10/2025 (MT Newswires) -- (Updates with IBM's ( IBM ) response in the fifth paragraph.)

IBM ( IBM ) won a UK lawsuit in the UK that accused US tech entrepreneur John Moores' LzLabs of stealing trade secrets, Reuters reported Monday, citing a High Court ruling.

In the case against LzLabs, two English units and Moores, IBM ( IBM ) accused LzLabs' UK unit Winsopia of buying an IBM ( IBM ) mainframe computer and agreeing to a license with IBM ( IBM ) in 2013, the report said.

IBM ( IBM ) alleged the access was used to reverse-engineer its mainframe software, while LzLabs and Moores argued that IBM's ( IBM ) licensed software wasn't used illegally, the report said.

IBM's ( IBM ) case against another British LzLabs subsidiary and LzLabs' current and former CEO was rejected, the report said.

"IBM ( IBM ) is delighted that the court has upheld our claims against Winsopia, LzLabs GmbH and John Moores," IBM ( IBM ) said in a statement emailed to MT Newswires. "The court found that these parties had conspired to breach Winsopia's license agreement in a deliberate, systematic and intentionally hidden effort to unlawfully reverse engineer critical IBM ( IBM ) mainframe technology."

LzLabs didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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