According to the complaint, the Johnsons, as principals, sold the assets of Pointer Insurance to NavSav for $5,405,000 on May 1, 2023. As part of the transaction, the Johnsons were obligated to deliver all data and information maintained in Pointer Insurance’s data management system – referred to as the Pointer Management System – including confidential information regarding customer names, contacts, financials, and policy information. NavSav alleges that the Johnsons refused to execute a license transfer agreement, which would have delivered direct access to the Pointer Management System to NavSav and allowed them to restrict the Johnsons’ access to client data.
NavSav alleges ex-Pointer Insurance owners misappropriated client data in $5.4 million deal
