NEW YORK - McGraw-Hill Cos., parent of Standard & Poor's, has sued the Vanguard Group, claiming the second-biggest U.S. mutual fund company used S&P's indexes and trademarks on new funds without its permission.
The suit, filed Thursday in U.S. District Court in Manhattan, charges Vanguard with breach of contract, trademark infringement, and unfair competition in connection with the Valley Forge, Pa., fund company's proposed exchange-traded funds.
A Vanguard spokesman said the firm would not comment on the litigation.
Vanguard introduced the exchange-traded funds last month, touting their rising popularity and saying it would try to appeal to the active traders it has long shunned.
Vanguard is challenging Barclays Global Investors, which is expanding its exchange-traded funds that seek to mimic benchmark indexes.