Bucks County Jury Awards $26.6 Million to Bensalem Scientists in Trade Secret Dispute
In a landmark legal victory, five scientists previously employed at a Bensalem-based pharmaceutical company Sigmapharm Laboratories are getting vindication in a $26.6 million countersuit, writes Michael Tanenbaum for the PhillyVoice.
The scientists, once accused of stealing trade secrets by the company’s CEO Spiridon Spireas, were cleared of allegations after a decade-long legal battle, revealing no evidence to support the hefty $849 million claims against them.
The conflict began when the scientists, all of whom were recruited by Spireas and promised equity in the company, sought to renegotiate their contracts amid the company’s rising profits.
Instead of engaging in fair negotiations, Sigmapharm abruptly terminated their employment and accused them of misappropriating trade secrets, an accusation that the court found baseless.
The case, which culminated in a jury trial presided over by Judge Robert G. Mellon, not only cleared the scientists of all allegations but also recognized the breach of contract and fiduciary duty by Sigmapharm, leading to the multimillion-dollar award.
Read more about the victorious countersuit against Bensalem-based Sigmapharm Laboratories in the Philly Voice.
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