Fiber-Optics Manufacturer Secures $96M Verdict Against Former Executive Who Took Protected Info to Competitor
"We could not be more pleased for the client to be part of this amazing trial team," Maynard Nexsen shareholder Susan McWilliams said in a statement. "Securing this win was a gratifying end to a long and arduous litigation."
August 23, 2024 at 10:35 AM
3 minute read
Trade Secrets
A federal jury in South Carolina awarded $96 million to one of the world's leading manufacturers of fiber-optic cables against one of its former executives for misappropriating trade secrets to his new, direct competitor employer.
After a nearly three-week trial held in the U.S. District Court for the District of South Carolina, Prysmian Cables & Systems USA, led by attorneys with Maynard Nexsen and Frost Brown Todd, earned the $96.7 million in damages against the former employee, Stephen J. Szymanski, and his new employer Sterlite Technologies. Szymanski, who ran Prysmian's optic-cable business in North America, took a job with the competitor company in June 2021.
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