Comet Holding AG
/ Key word(s): Miscellaneous
Comet announces that it obtained a permanent injunction against XP Power that prevents XP Power from using the misappropriated trade secret information owned by Comet.
The U.S. District Court for the Northern District of California has issued a permanent, worldwide injunction against XP Power, LLC (“XP”), prohibiting XP from, e.g., making or selling any product derived from the misappropriated trade secrets owned by Comet.
This decision follows a jury’s verdict on March 24, 2022, deciding in favor of Comet in its trade secret misappropriation case against XP and awarding Comet USD 40 million in compensatory and punitive damages. After the verdict, Comet sought a permanent injunction namely to prevent XP from launching its next generation RF power products developed with Comet’s trade secrets.
“The Court’s decision ensures that the groundbreaking technology developed by Comet’s engineers will be protected,” said Stephan Haferl, CEO of Comet. “This result and the jury’s decisive verdict confirm that XP will not be able to further benefit from the misappropriation of Comet’s trade secrets. Comet will continue to ensure that its valuable intellectual property is protected and will remain focused on providing the highest quality products and services to its customers.”
The parties may now file post-trial motions, and thereafter appeals.
End of Media Release
|Company:||Comet Holding AG|
|Phone:||+41 31 744 90 00|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1457795|
|End of News||EQS News Service|
1457795 06.10.2022 CET/CEST