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Defendant Counterclaiming for Trade Secrets Misappropriation Awarded $72,403 in Damages and $372,094 in Attorneys Fees

In Arbitration, Counterclaims, Judgments, Verdicts on November 3, 2010 at 6:34 am
Wachovia Securities
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Plaintiffs in a wrongful termination suit were denied any award after an arbitration, but one plaintiff was ordered to pay $72,403 in compensatory damages to defendant on, inter alia, misappropriation of trade secret counterclaims. Holland v. Wachovia Securities LLC, 2009 WL 7035871, 44 Trials Digest 13th 12 (S.D. Cal. Award May 18, 2009).

Background

According to court records: Plaintiff William Holland filed his Statement of Claim alleging that defendants Wachovia Securities LLC and Eugene P. Ingargiola, who was the manager of the Wachovia office where William was employed, had damaged him when they wrongfully terminated his employment on November 18, 2004.  Id. Among other things, plaintiff claimed that defendants had terminated him on account of his age and in a desire to re-assign his accounts to younger account executives whose percentage share in the revenues generated by those accounts would be less than plaintiff’s share had been. Id.

Holland’s son and co-worker, Michael W. Holland, also filed his own Statement of Claim in a separate proceeding, alleging that defendants had damaged him when his employment with Wachovia terminated very shortly after his father’s.  Id.

Wachovia counterclaimed, alleging, inter alia, that William Holland and Michael W. Holland violated the Computer Fraud and Abuse Act and misappropriated trade secrets. Id. Read the rest of this entry »

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Plaintiffs Awarded Over $1 Million After Bench Trial in a Trade Secrets Case

In Judgments, Verdicts on November 2, 2010 at 11:41 am
Engraving of Gilbert and Sullivan's Trial by Jury.
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After a bench trial in San Francisco Superior Court, plaintiffs in a trade secrets case recovered judgment on the merits against certain defendants in the amount of $921,469, plus pre-judgment interest in the amount of $301,664, and punitive damages of $275,000.  UltraEx Inc. vs. Express It Delivery Services Inc., Case No., CGC-05-447942, 2010 WL 4260535, 44 Trials Digest 13th 5 (Cal. Sup. Ct. Verdict Date: April 1, 2010).

According to court records, on April 29, 1998, plaintiff UltraEx Inc. merged with two other corporations, Express It Courier Services Inc. (“Old Express It”) and 800 Courier Inc.  Id. *1. Plaintiff was the surviving corporation in this merger, but prior to the merger, Old Express It and 800 Courier had each been actively conducting a package delivery business in California.  Id. Defendant Express It Delivery Services Inc. (“New Express It”) was a California corporation formed in November 2004. Id. Read the rest of this entry »