Highland Heights-based Prysmian Group, an electrical cable manufacturer, was awarded $96 million in a trade secrets lawsuit against a competitor.
On Aug. 9, a South Carolina grand jury ruled in favor of Prysmian after a three-week trial in U.S. District Court in Columbia, South Carolina. The jury found that Sterlite Technologies was unjustly enriched by taking Prysmian’s trade secrets and awarded Prysmian $96.5 million in damages.
Previously, Stephen Szymanski, a former executive at Prysmian and former head of the company’s optical fiber cable business in North America, was found to have unjustly enriched himself by misappropriating Prysmian’s trade secrets. Szymanski left Prysmian for Sterlite in August 2020.
Prysmian filed the suit in June 2021. In it, the company accused Szymanski of misappropriating trade secrets and taking them to Sterlite. Sterlite and Szymanski both denied taking trade secrets from Prysmian.
During the trial, Prysmian provided evidence that Sterlite had taken thousands of documents containing confidential information and trade secrets.
“This case came down to the basic principle of right versus wrong, and we are pleased that the jury came to this decision,” Prysmian North America CEO Andrea Pirondini said in a news release. “It was clear that we had a solid case, and the jury decision confirms how America looks at the protection of trade secrets. It also demonstrates we will not stand still when it comes to defending our confidential information and trade secrets, competing fairly in the marketplace, and doing right by our customers.”