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Home » MicroVention settles trade secret misappropriation and breach of contract claims against former employees

MicroVention settles trade secret misappropriation and breach of contract claims against former employees

July 17, 2024 By Danielle Kirsh

MicroVention this week announced it settled a trade secret misappropriation and breach of contract lawsuit against three former employees.

The U.S. District Court for the Central District of California issued an injunction permanently enjoining defendants and former employees David Ferrera, Nguyen Le and Michelle Tran from using, disclosing or possessing MicroVention trade secret information or any other confidential information. The U.S. District Court required that the trio undergo certain trade secret remediation protocols to remedy harm to the company.

MicroVention sued the former employees in 2020 for trade secret misappropriation and breach of contract for the unlawful misuse of the company’s trade secrets related to embolic coil systems, access catheters and guidewires used to treat aneurysms. The court also rendered a consent judgment that said when the three employees left MicroVention, they allegedly violated their obligations and agreements of confidentiality by taking “significant amounts of MicroVention files” pertaining to the company’s devices and business. In particular, the court noted that Ferrera misappropriated MicroVention’s trade secrets.

The court ruled that MicroVention was entitled to recover a monetary payment from the defendants, as reflected in a separate settlement agreement. It also entered sanctions orders against some of the defendants related to the spoliation of evidence.

“At MicroVention, we hold the principles of innovation, integrity, and respect for intellectual property in the highest regard. Our recent legal actions are a testament to our unwavering commitment to protect our own intellectual property rights. However, our dedication extends beyond the confines of our own interests; we actively advocate for the respect of intellectual property rights throughout the industry,” President and CEO Carsten Schroeder said in a news release. “This commitment to ethical business practices and intellectual property protection is foundational to fostering a fair and competitive market. It ensures that groundbreaking medical technologies continue to evolve and reach those in need, underpinning our mission to be an industry leader in the creation and commercialization of innovative neuroendovascular technologies that provide a meaningful improvement in patient lives.”

Filed Under: Business/Financial News, Featured, Legal News Tagged With: MicroVention

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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