$36M Trade Secrets Verdict Rushes Luna Into Ch. 11

Law360, New York (July 17, 2009, 5:47 PM EDT) -- Crippled by a recent $36 million jury verdict in a trade secrets dispute, Luna Innovations Inc. has filed for Chapter 11 bankruptcy protection, proffering a reorganization plan that estimates a full return for creditors provided the final trial award is reduced to roughly $1.3 million.

Luna filed its Ch.11 petition in the U.S. Bankruptcy Court for the Western District of Virginia on Friday, leaving little ambiguity that the $36 million awarded to Hansen Medical Inc. in April was a disastrous blow to the instrumentation and nanomedicine...
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