Holtec Settles Trade Secret Theft Suit Against Ex-Workers

Law360, Washington (December 14, 2011, 11:57 AM EST) -- Holtec International, a global supplier of nuclear and other energy equipment, on Monday settled its suit against two former employees and their rival company for allegedly stealing confidential trade secrets related to its technology and bidding procedures.

Holtec sued Ranga Nadig, Michael Phipps and Maarky Thermal Systems Inc. in New Jersey federal court in March alleging they violated the Computer Fraud and Abuse Act and a number of state laws including misappropriation of trade secrets. Holtec eventually withdrew its federal cause of action under the CFAA,...
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