ADT Sues Ring.Com, Zonoff Exec Claiming Tech IP Grab
Law360, Wilmington (May 1, 2017, 6:08 PM EDT) -- Security tech firm ADT Holdings Inc. sued video doorbell maker Ring.Com and a former Zonoff Inc. executive in Delaware's Chancery Court late Friday, asserting thefts of ADT-secured intellectual property and assets and declaring that "real and imminent damages cannot be calculated."
The 10-count suit accuses Ring and former Zonoff CEO Michael Harris of conspiring to take control of software, source code, trade secrets and other assets associated with a home automation and security platform, dubbed Z1, that Zonoff was said to have developed with and for ADT.
ADT, Zonoff's largest investor, says it made equity investments in and "large, secured loans"...
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