Palantir, known for its defense work, has a growing healthcare division that contributed 15% to its commercial business. The company is seeking treble damages and attorney’s fees, and plans to initiate arbitration to recover compensation from Jain and Pillai. Palantir reported a 29% revenue increase in 2024 and anticipates further growth in 2025. The company’s healthcare division has seen substantial growth, with its software managing 21% of U.S. hospital beds as of August 2024. Neither Palantir nor its legal representatives have commented on the lawsuit.
Key takeaways:
- Palantir Technologies has filed a lawsuit against Guardian AI and its founders for alleged trade secret theft related to AI technology for reviewing health insurance claims.
- The lawsuit claims that former Palantir employees Mayank Jain and Pranav Pillai stole trade secrets to launch Guardian AI while still employed at Palantir.
- Palantir is seeking treble damages and attorney’s fees, and plans to commence arbitration to recover compensation from Jain and Pillai.
- Palantir's healthcare division has seen significant growth, contributing to 15% of the company's commercial business and managing 21% of hospital beds in the U.S.