A Phillips 66 fueling station in Houston, Texas. Credit: Google $604.9M Verdict Returned in Low-Carbon Fuels Trade Secrets Trial
A key event at trial was a response to a juror's question, Michael Ng said, where the Phillips 66 executive charged with implementing the company's new fuels business inadvertently confessed to the use of proprietary marketing data.
October 18, 2024 at 04:32 PM
5 minute read
What You Need to Know
- Propel Fuels, a low-carbon fuels retailer in California, got a $605 million jury verdict in its trade secrets misappropriation trial against Phillips 66 Co.
- Phillips 66 told Propel it wanted to buy the company and got Propel to develop marketing of the business.
- Once Phillips 66 was ready to launch, it ended acquisition talks and launched the business without Propel.
Propel Fuels Inc., a major low-carbon fuels retailer at stations in California, received a $604.9 million jury verdict in its trade secrets misappropriation case against Phillips 66 Co.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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