December 24, 2010 |
A legal battle between hotel chains Hilton Worldwide and rival Starwood Hotels & Resorts Worldwide, which included allegations of corporate espionage and stolen trade secrets, has ended in a settlement that cost Hilton some bruising concessions. Hilton, which was accused of pilfering proprietary information about Starwood's successful W hotels in order to build its own luxury boutique chain, has agreed to stay out of that market segment until January 2013. Hilton also agreed to let an outside monitor make sure it returns any stolen files and other documents to Starwood.
December 9, 2010 |
Goldman Sachs, the most powerful firm on Wall Street, makes an unlikely victim. That, however, is the role that the bank has played over the last two weeks in a Manhattan courtroom, where prosecutors have argued that Sergei Aleynikov, a skinny, bespectacled former computer programmer at Goldman, stole valuable computer code from the bank before moving to a start-up firm that was trying to build its own trading operations. Although the code in question was a mere 32 megabytes ?
September 21, 2010 |
Hewlett-Packard Co. agreed Monday to end a lawsuit aimed at preventing its recently ousted chief executive, Mark V. Hurd, from going to work for rival Oracle Corp. Under the settlement, Hurd agreed not to disclose HP's trade secrets to his new employer and waived his rights to nearly 345,000 special stock units he was entitled to as part of his severance package. If sold today, they would be worth close to $14 million. In addition to the stock units he gave up, Hurd's severance package included more than $12 million in cash and 775,000 stock options that vested on the day of his resignation, worth tens of millions more.
July 9, 2010 |
A Los Angeles County judge on Thursday referred to arbitration the case of a Canadian engineer who contends that NBC Universal stole his idea and business strategy to launch Hulu, the website that shows TV programs and movies. Errol Hula, founder of technology company Hulavision, sued media giant NBC Universal and the Hulu joint venture four months ago, saying Hula shared trade secrets and a business plan with an NBC executive in 2006. The following year, NBC Universal announced plans to team up with Rupert Murdoch's News Corp.
June 6, 2010 |
When Ross Klein arrived at Hilton Worldwide's Beverly Hills headquarters to create a new luxury chain, he was the "it" guy in the hottest segment of the lodging business. A former retail marketing whiz, Klein had trained his fashion sense on the buttoned-down hotel industry, helping turn the W chain into a hip money-maker for its parent, Starwood Hotels and Resorts Worldwide Inc. Hilton lacked a product to compete. So it lured Klein away from Starwood in 2008 by offering him a chance to build a brand from scratch.
August 13, 2009 |
China formally arrested four employees of mining giant Rio Tinto Ltd. for infringing trade secrets and bribery, but stopped short of laying politically explosive espionage charges in a case that has strained ties with key trading partner Australia. Investigations showed the four, including Stern Hu, an Australian citizen who headed Rio Tinto's iron ore business in China, obtained commercial secrets about China's steel and iron industries through "improper means" and were involved in bribery, the official Xinhua News Agency reported Wednesday.
July 29, 2009 |
Sun Danyong was the mild-mannered son of a potato-farming family in an impoverished corner of south-central China. When he was offered a job at a sprawling electronics factory in the boomtown of Shenzhen last year, he accepted, figuring the experience would spur him to better opportunities one day back in his home province of Yunnan. He never got the chance.
December 24, 2008 |
A California jury has ordered drug maker Pfizer Inc. to pay $38 million to a leading Bay Area medical research nonprofit for stealing trade secrets to develop a pain-relief drug. A Santa Clara County Superior Court jury reached the verdict Monday in a 2004 lawsuit filed against the New York company by the Ischemia Research and Education Foundation in San Bruno. Pfizer said it planned to appeal.
November 7, 2008 |
A former Intel Corp. engineer was charged with stealing trade secrets worth $1 billion from the chip maker while he worked for its main rival, Advanced Micro Devices Inc. In a five-count indictment, federal prosecutors in Massachusetts accused Biswamohan Pani, 33, of illegally downloading more than a dozen confidential documents from Intel's computer system during a four-day stretch in June.
September 9, 2008 |
Motorola Inc., the world's third-largest maker of mobile phones, claimed in a lawsuit that BlackBerry maker Research in Motion Ltd. was stealing its workers in violation of an agreement between the two rivals. Since February, Research in Motion has targeted at least 40 Motorola employees who can't work at the new company without revealing trade secrets, Motorola said in a lawsuit filed Sept. 4 in state court in Illinois' Cook County. Motorola, based in Schaumburg, Ill., asked a judge to bar Research in Motion from using Motorola's confidential information and from soliciting or hiring any Motorola employees.