Apple is being sued by Fintiv, a Texas company, for allegedly stealing technology to create Apple Pay. Fintiv claims Apple used technology from CorFire, which Fintiv acquired, to develop Apple Pay features. Apple has not responded to the allegations.

Fintiv says Apple held meetings with CorFire in 2011-2012 to license mobile wallet technology, but instead used it to launch Apple Pay in 2014. Fintiv alleges Apple engaged in racketeering by generating fees for credit card issuers through Apple Pay without compensating Fintiv.

Fintiv’s lawyer calls Apple’s actions “corporate theft and racketeering of monumental proportions.” The lawsuit seeks compensatory and punitive damages for trade secrets and racketeering violations, including RICO. Apple is the sole defendant in the case.

A federal judge in Austin recently dismissed Fintiv’s patent infringement lawsuit against Apple, but Fintiv plans to appeal. The case, Fintiv Inc v Apple Inc, is ongoing in the U.S. District Court, Northern District of Georgia.

Read more at Yahoo Finance: Lawsuit accuses Apple of stealing trade secrets to create Apple Pay