Fintech Firm Awarded $5.7M At Fla. Trade Secrets Trial
By Craig Clough (March 3, 2020, 6:39 PM EST) -- A Florida federal jury on Tuesday awarded Financial Information Technologies $5.7 million in a suit against a Delaware software company that it claimed misappropriated trade secrets gained from a former Fintech executive to develop products identical to its "revolutionary" electronic payments system for the beverage industry.
The jury awarded $2.7 million to the Florida-based company, which is known as Fintech for short, for the alleged misappropriation, and another $3 million after concluding that iControl Systems USA LLC willfully and maliciously engaged in the misappropriation.
The verdict comes after Fintech filed the suit in 2017 alleging that its former executive, Mark Lopez, gave...
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