Tecnomatic Says Remy Swiped Hybrid Car Technology

Law360, New York (March 10, 2011, 5:11 PM EST) -- Tecnomatic SpA slapped fellow industrial parts manufacturer Remy Inc. with a lawsuit in Illinois on Wednesday claiming Remy violated a confidentiality agreement and swiped proprietary technology to bag more than $60 million from the U.S. Department of Energy.

Tecnomatic is seeking actual damages of $110 million in the complaint lodged by S. Patrick McKey of Bryan Cave LLP in the U.S. District Court for the Northern District of Illinois.

The suit accuses Remy of striking an information-sharing deal with Tecnomatic in 2003 under the pretense that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.