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: The Trade Secrets Vault

PARUS HOLDINGS, INC., Plaintiff, v. BANNER & WITCOFF, LTD., Charles Call, and Eugene Nelson, Defendants.

A successor corporation brought action against counsel for predecessor corporation alleging they committed legal malpractice, breached their fiduciary duties, and committed trade secret violations by providing a former employee with confidential information about predecessor corporation's application for a patent. Counsel moved to dismiss. The District Court, William T. Hart, J., held that: (1) successor corporation established standing, at the pleading stage, to assert claims of legal malpractice and breach of fiduciary duty against counsel; (2) successor corporation's allegations regarding the Illinois Trade Secrets Act (ITSA) were sufficient to survive motion to dismiss; and (3) statute prohibiting punitive damages on legal malpractice claims did not apply to ITSA claim. Motion granted in part and denied in part.

Full post as published by The Trade Secrets Vault on November 20, 2008 (boomark / email).