A Virginia federal jury in Alexandria recently awarded a mining tire design development company $26 million. The case involved two foreign companies accused of conspiracy to steal trade secrets and other related claims.
The plaintiff, Tire Engineering and Distribution, LLC (TED) claimed it protected its designs and marketing for tires, customer lease, pricing information and production schedules, and other proprietary and trade secrets.
According to TED, its Chief Executive Officer, Jordan Fishman, was working with TEDs China-based joint venture partner and tire manufacturer to exclude TED out of any China-related business. The China-based company eventually stopped shipping tires for TED. The TED CEO also met with a Dubai based international tire distributor and offered to provide TEDs customer list pricing information and blueprints for molds of the tires.
The jury entered the judgment against the TED CEO and the two foreign companies.