TLDR
- Palantir Technologies filed a lawsuit against former senior engineers Radha Jain and Joanna Cohen in Manhattan federal court on Thursday
- The engineers allegedly used confidential source code and customer data to help launch competing firm Percepta AI
- Both defendants signed non-compete agreements preventing them from competing for one year and soliciting clients or employees for two years
- Percepta AI has hired at least 10 former Palantir employees, with nearly half its workforce coming from Palantir
- Analysts maintain a Hold rating on PLTR stock with an average price target of $158.41, suggesting 20% downside from current levels
Palantir Technologies filed a lawsuit on Thursday against two former senior engineers. The company accuses them of stealing trade secrets to build a competing artificial intelligence firm.
Palantir Technologies Inc., PLTR
The lawsuit targets Radha Jain and Joanna Cohen. Both worked on key parts of Palantir’s AI software before leaving the company.
Palantir filed the case in Manhattan federal court. The complaint alleges both engineers had access to the company’s most sensitive information.
This included source code and customer data. Palantir calls this information its “crown jewels.”
The company claims Jain and Cohen used this insider knowledge to help create Percepta AI. The startup offers products similar to Palantir’s AI-powered software.
Both platforms aim to help businesses and government agencies work more efficiently. They do this by analyzing data the organizations already have.
Jain departed Palantir in November 2024. She had helped design and build the company’s flagship software.
Cohen left in February 2025. She worked on AI solutions for individual customers.
The Non-Compete Dispute
Palantir says both engineers signed agreements when they joined the company. These contracts included several restrictions.
The agreements banned them from competing with Palantir for one year after leaving. They also prevented soliciting Palantir clients or employees for two years.
The contracts prohibited using any confidential company information outside their employment. Palantir argues Jain and Cohen violated all these terms.
The lawsuit describes their actions as “deception and violation of their agreements with Palantir.” The company says the breaches are “black and white.”
Palantir is asking the court to enforce these agreements. The company wants to stop the defendants from continuing their current activities.
Percepta AI Connections
Percepta AI was publicly unveiled earlier this month. The company is owned by venture capital firm General Catalyst.
The startup hired at least 10 former Palantir employees within months of its founding last year. Nearly half of Percepta’s workforce previously worked at Palantir.
This includes co-founder and CEO Hirsh Jain. He is Radha Jain’s brother.
Percepta AI is not named as a defendant in the lawsuit. The company did not immediately respond to requests for comment.
Radha Jain also did not respond to comment requests. Cohen could not be reached.
Wall Street analysts currently rate PLTR stock as a Hold. The rating is based on four Buy recommendations, 13 Hold ratings, and two Sell ratings from the past three months.
The average price target sits at $158.41 per share. This represents a 20% decrease from current trading levels.
The lawsuit was filed on Thursday in Manhattan federal court. Palantir is seeking to force Jain and Cohen to comply with their original employment agreements.
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