St. Jude Medical gets $2.3B in trade secrets case
MINNEAPOLIS (AP) - St. Jude Medical Inc. said a Los Angeles jury awarded it $2.3 billion in a lawsuit against a former employee of its heart device business and a Chinese company he founded.
The company had said Yongning Zou stole trade secrets from the Pacesetter cardiac rhythm device unit, and tried to use those secrets to set up his own company, Nervicon Co. St. Jude said the jury returned a $1.47 billion judgment against Zou and an $868 million judgment against Nervicon.
St. Jude is one of the world's largest medical device companies, and products like pacemakers and implantable heart defibrillators bring in more than half its revenue. The company reported $3.05 billion in cardiac rhythm device sales in 2010.
Latest Stories
- Clerk Mariyana T. Spyropoulos’ Office Advances Legislation to Create County-Level Will Depository System in Illinois
- ANOTHER STRONG HALF-YEAR RESULT FOR THE ILLINOIS LOTTERY
- Illinois State Rep. Introduces Legislation To Empower Young Voters
- Daughters Of Oscar Brown, Jr. Keep His Legacy Alive
- Simone Green Releases Single “Black Queen”
Latest Podcast
Get Your House In Order Legacy Plan
