The former CEO of Patriot Rail Co. won his advancement bid in the Delaware Court of Chancery to have his former company cover the cost of potentially having to defend himself in a trade secrets case in California federal court.
Patriot and its former director and officer, Gary O. Marino, had moved for summary judgment on Marino’s advancement request in the Delaware court. Both parties have been wrapped up in a protracted legal battle in California with Sierra Railroad Co., which secured approximately $53 million in damages from Patriot and its grandparent company for breach of contract, misappropriation of trade secrets and interference.
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