International fiber optic cable provider Prysmian announced it has won its trade secrets case against its competitor Sterlite Technologies, Inc. and Prysmian’s former executive, Stephen Szymanski. Szymanski ran Prysmian’s optical fiber cable business in North America, and departed Prysmian for Sterlite, a direct competitor, in August 2020.
On August 9, 2024, a South Carolina jury ruled in favor of Prysmian following a three-week jury trial in U.S. District Court in Columbia, SC. The jury found that Sterlite was unjustly enriched by taking Prysmian’s trade secrets and awarded $96.5 million in damages against Sterlite Technologies, Inc. The jury also found that Szymanski had been unjustly enriched by misappropriating Prysmian’s trade secrets and awarded $200,000 against Szymanski, personally.
Prysmian filed its lawsuit in June 2021, accusing its former executive of misappropriating trade secrets and taking them to his new employer Sterlite. Sterlite and Szymanski denied that they had taken anything from Prysmian.
Prysmian said it proved that Sterlite had taken thousands of pages of Prysmian’s confidential information and trade secrets at the trial. The materials in Sterlite’s possession included information about Prysmian’s customers, its newest products, and plans to expand its manufacturing plants. Much of the information was found in the possession of not just Szymanski and Sterlite, but also in the possession of executives at Sterlite’s global headquarters in Pune, India.
“This case came down to the basic principle of right versus wrong, and we are pleased that the jury came to this decision,” said Prysmian North America CEO Andrea Pirondini. “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.”
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