Baker Hughes Awarded $25M In Varel Drill Bit Spat

Law360, New York (April 28, 2010, 4:36 PM EDT) -- Baker Hughes Inc. has won a $25.3 million verdict in its lawsuit against oil, gas and mining equipment provider Varel International Inc., which a jury found had stolen Baker Hughes' trade secrets and used the information to copy a drill bit.

The jury, which reached its verdict on Thursday in the 269th Judicial District Court of Harris County, Texas, awarded both actual damages and punitive damages because it found that Varel had acted maliciously and intentionally, according to documents in the case.

Jurors awarded Baker Hughes...
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