OLD Media Moves

Penny Hoarder is suing The Smart Wallet parent

May 20, 2019

Posted by Chris Roush

Florida-based personal finance site The Penny Hoarder is suing New York-based Fluent LLC, the parent of The Smart Wallet, for allegedly stealing story ideas and employees from the company.

Lauren Coffey of The Tampa Bay Business Journal writes, “Fluent LLC oversees The Smart Wallet website which, like The Penny Hoarder, is a personal financial website offering advice and tricks for those looking to better manage their money. Both have offices in St. Pete.

“‘In recent months Fluent has tried to bully and intimidate The Penny Hoarder by poaching employees, opening an office across the street, filing a frivolous lawsuit to stop us from protecting our confidential information and even encouraging one of their employees to breach our firewall and steal code,’ Penny Hoarder CEO Kyle Taylor said in a statement to the Tampa Bay Business Journal. ‘While we believe in working out business differences in the most amicable way possible, Fluent has left us no other choice but to file a lawsuit.'”

“The lawsuit was filed on May 15 in the Middle District of Florida Tampa division. The complaint lists 18 examples of times Fluent LLC allegedly copied The Penny Hoarder’s articles.”

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