MADISON, Wis.—The Credit Union Executive Society (CUES) has won a lawsuit filed against it by BVS Performance Solutions, Cedar Rapids, Iowa.
In the suit, originally filed in 2014, BVS had alleged that CUES had broken an agreement to partner with the company on online training and other learning services that were expected to generate significant revenue opportunities for the company.
A jury disagreed, however, and ruled in favor of CUES.
“Our team and board believed from the beginning we needed to pursue this issue on principle and integrity,” said John Pembroke, CUES’ president and CEO, in a statement. “We’re very pleased with the outcome, and can now look ahead to 2017 and continuing to exceed our members’ expectations as an education and training provider. We’re confident our training and education have been, and will continue to be, the best in class for credit unions.”
In its statement CUES said it had been “working vigorously for more than a year” to achieve a resolution with BVS, but had been unable to do so. CUES and BVS entered into their original agreement in 2011.
In its complaint, BVS had alleged that during
discussions “CUES represented that it would provide BVS access/space on CUES' website, in its publications and via speaking roles at CUES' conferences and conventions. CUES also represented that it would not charge BVS for this access/space, given that BVS would be paying CUES hundreds of thousands of dollars in royalties/commissions.”
It further alleged that “CUES would treat BVS as a partner, rather than a vendor,” and that CUES “would invest substantial marketing dollars to promote/advance the relationship.”
In its statement following the jury decision CUES said it “highly values its strategic partnerships and its reputation.”