ACE Says OneBeacon Stole Trade Secrets, Workers

Law360, New York (August 20, 2012, 3:26 PM EDT) -- ACE American Insurance Co. lodged a suit against OneBeacon U.S. Holdings Inc. in Pennsylvania on Friday, accusing its rival of poaching eight key employees and pilfering trade secrets in order to establish a competing surety unit.

In a complaint filed in Pennsylvania federal court, ACE alleges OneBeacon had conspired with former employees to steal trade secrets from the company in an attempt to cripple ACE’s surety business, in violation of the Pennsylvania Uniform Trade Secrets Act.

“More specifically, OneBeacon conspired with eight ACE employees to steal...
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