By Jeff Sanford

(July 18 – 18:10 ET) – RPM Technologies announced today that it has filed a Statement of Claim in the Ontario Superior Court of Justice against Fidelity Investments Canada Limited and Star Data Systems Inc. It is seeking to protect business plans it claims Fidelity has unfairly used after Fidelity terminated their relationship with the software maker to forge new alliances with Star Data. Both Fidelity and Star Data say the claim is completely without merit.

RPM is seeking an injunction against Fidelity and Star Data implementing their alliance. In lieu of such an injunction RPM is seeking $30 million in damages.

“Our claim is about protecting RPM’s confidential information, business plans and strategies that it has developed over a period of more than 10 years from being unfairly used by Fidelity and Star Data,” said Henry Wolfond, chairman of RPM, in a press release Wednesday.

The claim alleges that RPM provided Fidelity with information about its business and technologies such as confidential plans and strategy documents during its talks with Fidelity.

“After a lengthy process of working closely with RPM during which Fidelity induced RPM to give over as much information as possible, Fidelity terminated the relationship, for reasons which we believe are unsatisfactory,” said the release.

As for Fidelity, “We were a little surprised by it,” said Kim Flood, a Fidelity representative, referring to the roughly 600-page document when contacted late Wednesday.

“We’re confident there’s no merit in the claims that have been filed and we intend to respond to them vigorously in court. Beyond that, we’re not able to discuss it as it is a situation before the court,” said Flood.

Star Data issued a press release this morning announcing the claim. In it, Alan Hutton, Star Data’s president and CEO, defended Star Data’s agreement with Fidelity.

“RPM’s claim against Star Data is completely without merit. Fidelity chose Star Data as its strategic alliance partner, as we announced on July 5, 2000. It is apparent from RPM’s claim that RPM was unsuccessful in establishing a similar alliance with Fidelity”, said Hutton.

The case centers around the creation of an order processing platform developed by Star Data and being adapted for Fidelity. The software would have the potential to be used internationally and would be much in demand as it will process orders in real time, at a time that financial services are racing to implement T+1 settlement.