News & Analysis as of

Breach of Duty Misappropriation

Proskauer - Corporate Defense and Disputes

Court Upholds SEC’s Victory in “Shadow Trading” Case

A federal court in California refused to grant a judgment or a new trial to a defendant who was found to have engaged in insider trading when he purchased securities of one company based on material nonpublic information...more

Holland & Knight LLP

Shady Days: SEC Secures Another Insider Trading Stat on Shadow Trading Theory

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The U.S. District Court for the Northern District of California on May 30, 2024, approved a settled final judgment against technology company Arista Networks' former chairman and CEO, Andreas "Andy" Bechtolsheim based on...more

Proskauer - Trade Secrets

Employee Mobility and Trade Secrets in the Golden Era of Life Sciences Innovation

The life sciences sector is in its “golden era” of innovation with the convergence of disciplines—including genetics, immunology, cell biology, and artificial intelligence—changing the speed, efficiency, and cost at which...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Rivkin Radler LLP

Insurance Update - May 20 2024

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Careening race cars, missing diamonds, and gold treasure provide some of the backdrop for insurance issues that courts had to decide this past month. We begin in Pennsylvania where the state’s high court reined in some loose...more

Paul Hastings LLP

SEC Wins Trial Involving First-Ever Shadow Trading Case

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On April 5, 2024, a federal jury in the Northern District of California found defendant Matthew Panuwat liable for insider trading in the Securities and Exchange Commission’s (“SEC”) first-ever case involving the so-called...more

Proskauer - Regulatory & Compliance

Proskauer Hedge Fund Trading Guide 2024 – Chapter 2: Insider Trading: Focus on Subtle and Complex Issues

Proskauer’s Hedge Fund Trading Guide offers a concise, easy-to-read overview of the trading issues and questions we commonly encounter when advising hedge funds and their managers. It is written not only for lawyers, but also...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

Mitchell, Williams, Selig, Gates & Woodyard,...

What do you have to Show to Prove that Someone Misappropriated Trade Secrets?

What must you show to prove that someone misappropriated trade secrets? The Arkansas Uniform Trade Secrets Act provides that misappropriation of trade secrets can be shown in one or more of three ways: acquisition or physical...more

Proskauer - Minding Your Business

CA Federal Court Awards Biomedical Companies $62M Following Jury Trial Involving Confidentiality-Related Claims

On November 1, 2023, a jury in the U.S. District Court for the Central District of California awarded damages to Skye Orthobiologics, LLC (“Skye”) and Human Regenerative Technologies, LLC (“HRT”) for breach of contract,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Court of Chancery Finds Officer Liable for Competing With Corporation and Misappropriating Trade Secrets

On September 1, 2023, Vice Chancellor Paul A. Fioravanti, Jr. of the Court of Chancery delivered a decision finding that the president of a plaintiff company and a second business the president had formed and served...more

Farrell Fritz, P.C.

A Potent Combo: Misappropriation of Corporate Opportunity Meets Faithless Servant

Farrell Fritz, P.C. on

Misappropriation of corporate opportunity is one of our favorite, most frequently blogged topics on New York Business Divorce. A special kind of breach of fiduciary duty, the corporate opportunity doctrine holds that...more

Vondran Legal

Arizona trade secret law

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Most states have a law that protects trade secrets. California, for example, has CUTSA (California Uniform Trade Secret Act). Arizona has the Arizona Uniform Trade Secrets Act ("AUTSA") found in chapter 4 of title 44 of the...more

Venable LLP

Fourth Circuit Holds That Government Contractors Can Rely on Fiduciary Duty of Loyalty to Prevent Employees from Direct...

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The U.S. Court of Appeals for the Fourth Circuit has found that employees can breach their duty of loyalty to their employers and tortiously interfere with a business expectancy by competing against their employer for the...more

Farrell Fritz, P.C.

Commercial Division Grants $1 Million Punitive-Damage Award for Diversion of Company’s IP in Breach of Fiduciary Duty

Farrell Fritz, P.C. on

A recent decision from the Manhattan Commercial Division reminds us that although punitive damages are generally not recoverable in New York, certain circumstances require that they be awarded. In Hall v Middleton,...more

Farrell Fritz, P.C.

Conflicts of Laws and the Internal Affairs Doctrine

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The legal concept of “conflicts of laws” is difficult, to say the least, confounding even seasoned litigators and judges, with bulky treatises and entire law school classes devoted to the subject....more

Winstead PC

Employee’s Fiduciary Duty May Not Be Limited To His Or Her Employer

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​​​​​​​In Trench Tech Int’l, Inc. v. Tech Con Trenching, Inc., the son of an owner of a company, who was an employee, downloaded design plans and other information and went to another company who used that information. No....more

Farrell Fritz, P.C.

Business Divorce, Brooklyn Style

Farrell Fritz, P.C. on

The pictured architectural rendering of the sunlit Kings County Supreme Courthouse at 360 Adams Street, completed in 1957, doesn’t quite capture the reality of its dour, hulking presence in downtown Brooklyn. Its design...more

Nutter McClennen & Fish LLP

Massachusetts Court Bars “Reasonable Royalty” Evidence Based on Law of the Case Doctrine

After successfully appealing a judgement and obtaining a remand of its Chapter 93A claim to the Massachusetts BLS, the Governo Law Firm moved to admit expert testimony about a “reasonable royalty” measure of damages. Governo...more

Manatt, Phelps & Phillips, LLP

Third Circuit Reverses Injunction in Trade Secret Misappropriation Suit

The U.S. Circuit Court of Appeals for the Third Circuit took on the misappropriation of trade secrets recently, reversing a district court’s grant of a preliminary injunction halting competition by a company’s rival and two...more

McDermott Will & Emery

The Plot Plot Thickens: Trade Secret, Tortious Interference, Fiduciary Duty Claims Survive Motion to Dismiss

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A judge from the US Court of Appeals for the Third Circuit sitting by designation in the US District Court for the District of Delaware denied a motion to dismiss claims of misappropriation of trade secrets, tortious...more

Patton Sullivan Brodehl LLP

Portrait of a Mangled Business Divorce

Business divorce can be messy, as reflected by many of the cases covered here at The LLC Jungle. Two issues that frequently arise during the dissolution of an LLC are: 1. the statutory buyout procedure, and 2. claims for...more

Pillsbury Winthrop Shaw Pittman LLP

Gensler SEC Expands Scope of Insider Trading Enforcement

Recent enforcement action could signal expanding the boundaries of misappropriation theory, with significant implications for SEC-regulated entities and other market participants. With Chair Gensler at the helm, an...more

Goodwin

Litigation Insights - July 2021

Goodwin on

FOREWORD - On behalf of the new and expanding Goodwin London litigation team I am delighted to welcome you to our first ever ‘Litigation Insights’: a series of quarterly updates on important and interesting developments...more

Zuckerman Spaeder LLP

Employment and Ethics Obligations for Departing Attorneys: Checking in on a Pending Case

Zuckerman Spaeder LLP on

Many ethics attorneys were intrigued by media reports of a complaint filed in February by Elliott Greenleaf, P.C. against four firm shareholder-attorneys and a paralegal who left the firm’s Wilmington office to join Armstrong...more

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