The plaintiff software provider sued the defendant investment management firm for unpaid invoices under an Investment Administration Services Agreement.
The dispute centered on whether the plaintiff could charge additional fees based on the Assets Under Administration (AUA) of all the defendant's funds, or only the specific fund for which the software was initially used.
The court applied principles of commercial contractual interpretation and found the plain language of the Agreement allowed fees based on total AUA.
The plaintiff was awarded $16,242.19 for AUA fees.
However, the court dismissed the plaintiff's claims for concurrent user fees and post-termination service charges, finding the contract ambiguous on concurrent users and noting the plaintiff breached its own post-termination obligations.
The defendant's counterclaim for wrongful termination was dismissed because the termination was lawful given the unpaid AUA fees.