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
- TOWNSHIPS OF ILLINOIS ORGANIZATION PRESENTS RICH TOWNSHIP WITH COVETED “2026 TOWNSHIP OF THE YEAR AWARD”
- The Church of God in Christ Appoints Pastor Michael Eaddy To Bishop
- CALUMET PARK GRADE SCHOOL DISTRICT 132 WELCOMES NEW SUPERINTENDENT, DR. BEATRIZ MALDONADO, WHO IS USHERING IN A NEW ERA OF ACADEMIC EXCELLENCE AND STUDENT ACHIEVEMENT
- CICS Avalon Named the #1 Charter Middle School in Illinois by U.S. News & World Report
- Cook County Treasurer Maria Pappas highlights expanded exemptions and benefits available to veterans and their surviving spouses
Latest Podcast
THE BEARS ARE STAYING...
