Ajaxo Wins Royalties For E-Trade IP Theft On Appeal

Law360, New York (August 30, 2010, 8:04 PM EDT) -- Reversing a lower court ruling, a California appeals court found Monday that Ajaxo Inc. is entitled to royalties for E-Trade Financial Corp.’s misappropriation of its trade secrets for wireless stock trading software.

The California Court of Appeal, Sixth Appellate District, dealt E-Trade a heavy blow, finding that the trial court erred in denying Ajaxo royalties after the jury concluded that E-Trade did not profit from the trade secret theft, nullifying the plaintiff’s bid for unjust enrichment damages.

The appeals court maintained that the trial court should...
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