SS+D News and Information

January 04, 2008
Members in Article: James A. Dyer | Michael P. Moloney, CFP

Defense Contractor Awarded $23 Million in Lawsuit

A jury awarded $17 million in punitive damages and almost $6 million in compensatory damages, to a Riverside [Ohio]-based defense contractor, Innovative Technologies Corp., that accused three former employees of taking its confidential and trade secret information when the three set up their own company.  ITC lost one of its largest contracts in 2001 after the trio defected, said SS+D attorneys for the plaintiff, Mike Moloney and Jim Dyer.

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