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St. Jude Medical Reports Superior Court Ruling in Trade Secret Lawsuit Involving Its OCT Business and Volcano and Axsun Technolo

Close-Up Media via COMTEX St. Jude Medical, a global medical device company, announced that the Superior Court of Massachusetts has issued rulings in outstanding litigation between LightLab Imaging (acquired last year by St. Jude Medical), Volcano and its subsidiary Axsun Technologies. The rulings find that Volcano and Axsun Technologies violated a Massachusetts law against engaging in unfair competition and unfair or deceptive acts or practices, through a pattern of inappropriate conduct directed at key technology used in the company's Optical Coherence Tomography (OCT) product platform. The statutory violations arose in connection with Volcano's acquisition of Axsun Technologies, a key LightLab supplier, in 2008. The Court also found that these violations were knowing and willful and entitle LightLab to recover attorneys' fees. To read the complete article from TM Trading Markets, please click here.

Full post as published by The Trade Secrets Vault on February 03, 2011 (boomark / email).