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Misappropriation Jury Verdicts

Benesch

Jury Finds Phillips 66 Liable For Misappropriating Trade Secrets in $605 Million Verdict

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Last week, a California jury found Phillips 66 liable for misappropriating trade secrets from Propel Fuels Inc., a low-carbon renewable fuels retailer, and awarded Propel $605 million in damages....more

Patterson Belknap Webb & Tyler LLP

UPDATE: Shadow Trading Conviction Draws Maximum Penalty

On September 9, 2024, the Hon. William Orrick of the District of Northern California imposed the maximum penalty sought by the Securities and Exchange Commission (“SEC”) against Defendant Matthew Panuwat—a civil fine of three...more

Proskauer - Trade Secrets

EV Trade Secrets Litigation Series: EV Trade Secrets Dispute Takes a Twist as $71M Verdict is Overturned

Continuing our series on electric vehicle (EV) trade secret litigations, a federal judge has overturned a jury’s verdict awarding $71 million to Zunum Aero, Inc. for The Boeing Company’s violation of the Washington Trade...more

Sunstein LLP

The Court of Appeals of Virginia Overturns Record $2 Billion Jury Award in Widely Watched Appian v. Pegasystems Trade Secret...

Sunstein LLP on

On July 30, 2024, the Court of Appeals of Virginia overturned a two billion dollar (yes, billion with a ‘b’) jury verdict in the Appian v. Pegasystems trade secret lawsuit. Although the Court of Appeals upheld the verdict of...more

Hahn Loeser & Parks LLP

New Insider Trading Precedent: Time To Update Insider Trading Policy

On April 5, 2024, the Securities and Exchange Commission (the “SEC”) obtained a verdict after an eight-day civil jury trial in SEC v. Matthew Panuwat (“SEC v. Panuwat”), in which the SEC alleged shadow insider trading, in...more

BakerHostetler

The SEC Secures Major Trial Victory in Its First ‘Shadow Trading’ Insider Trading Enforcement Action – Securities and Exchange...

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On Friday, April 5, a California federal jury found a former Medivation executive liable for insider trading under the novel liability theory of “shadow trading,” following an eight-day trial and less than three hours of...more

Akin Gump Strauss Hauer & Feld LLP

The SEC Wins ‘Shadow Insider Trading’ Trial

On Friday, April 5, 2024, a San Francisco jury found the defendant liable in SEC v. Panuwat, the closely watched litigated enforcement action brought by the U.S. Securities and Exchange Commission (SEC) relating to so-called...more

Proskauer - Corporate Defense and Disputes

SEC Wins Insider-Trading Suit Alleging “Shadow Trading”

A federal jury in California agreed with the SEC that a corporate official engaged in insider trading when he purchased securities of a company based on material nonpublic information (“MNPI”) about a different company. The...more

ArentFox Schiff

Federal Court Hits the Brakes on $105 Million Trade Secret Verdict Against Ford Motor Company

ArentFox Schiff on

Earlier this month, a federal judge in the Eastern District of Michigan overturned a jury verdict of nearly $105 million against Ford Motor Company for breach of contract and misappropriation of trade secrets. Finding that...more

BakerHostetler

Jury Finds Former NFT Marketplace Manager Guilty of 'Insider Trading' Wire Fraud Scheme and Money Laundering

BakerHostetler on

On May 3, 2023, a jury found Nathaniel Chastain, a former manager of OpenSea (a major NFT marketplace), guilty of wire fraud and money laundering in connection with his attempts to conceal his use of confidential business...more

McDermott Will & Emery

A Healthy Dose of Seeds: Unique Combination Trade Secrets Entitled to Protection

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The US Court of Appeals for the Sixth Circuit upheld a jury verdict finding a dietary supplement company liable for misappropriating another company’s research and development (R&D) related to broccoli-seed extract. Caudill...more

Mintz - Intellectual Property Viewpoints

Federal Judge Confirms that Federal Trade Secret Statute Applies to Misappropriation that Occurs Overseas

Earlier this month, a Northern District of Illinois jury returned a verdict in favor of Motorola for over $700 million after a trial in which Motorola alleged that Hytera hired three engineers away from Motorola’s Malaysian...more

Holland & Knight LLP

Dividing Misappropriation Claim Among Different Trade Secrets Ineffective to Avoid Statute of Limitations

Holland & Knight LLP on

In most states for certain claims, the statute of limitations is tempered by the "discovery rule," under which the limitations period does not start until the claimant knew or should have known of its claim against the...more

Spilman Thomas & Battle, PLLC

Trade Secret Misappropriation and Employee Fiduciary Breach in ASML v. XTAL Results in Large Judgement

On May 3, 2019, following a jury verdict rendered last November, a Santa Clara, California court entered a final judgment for $845 million in favor of semiconductor maker, ASML, in its suit against rival, XTAL, for stealing...more

Knobbe Martens

CardiAQ - An IP Success Story

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At the recent ACC-Socal Double Header Event, Knobbe Martens presented, "CardiAQ - An IP Success Story." ...more

Fisher Phillips

California Jury Punishes Former Employees for Unfair Play-Only Lawful Competition is Sacrosanct!

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Notwithstanding California's strong public policy in favor of lawful competitive behavior, California employees' duty of loyalty to their current employer reigns supreme. A violation of that duty can lead to costly jury...more

Knobbe Martens

Federal Circuit Review - October 2017

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Federal Circuit Denies En Banc Rehearing in Mentor Graphics v. EVE-USA - In Mentor Graphics Corp. v. Eve-USA, Inc., Appeal Nos. 2015-1470, 2015-1554, 2015-1556, the Federal Circuit denied Synopsys’ and EVE’s petition for...more

Schwabe, Williamson & Wyatt PC

Fresh From the Bench: Precedential Patent Cases From the Federal Circuit

In Allied v. OSMI, the Circuit affirms dismissal of a declaratory judgment action even though Allied’s Mexican distributors had been sued in Mexico on a corresponding Mexican patent. In a first Waymo v. Uber case, the panel...more

Dorsey & Whitney LLP

SEC Wins Jury Verdict in Insider Trading Case

Dorsey & Whitney LLP on

The SEC prevailed at trial, winning a jury verdict is an unusual insider trading case against a former Capital One Financial Corporation employee. SEC v. Huang, Civil Action No. 15-cv-269 (E.D. Pa. Filed Jan. 22, 2015)....more

McDermott Will & Emery

Greetings! Use of the PowerPoint Is Trade Secret Misappropriation

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Hallmark Cards, Inc. v. Monitor Clipper Partners, LLC - The U.S. Court of Appeals for the Eighth Circuit affirmed a district court’s decision holding that a private equity firm had misappropriated confidential...more

Robins Kaplan LLP

The Evolution of Trade Secret Damages

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There has been a notable uptick in the number and size of jury verdicts related to trade secrets. Over the past year, four of the top ten intellectual property verdicts have been related to claims of trade secret...more

Orrick - Trade Secrets Group

Good Things Come To Those Who Wait: $26 Million

Trade secret misappropriation cases often are won or lost quickly and early at the preliminary injunction stage of the case. However, today we report on the results of a slow moving, long-running trade secret case that...more

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