Magic Leap, Ex-Execs Settle Stolen Trade Secrets Suit

By Dave Simpson (August 22, 2017, 6:18 PM EDT) -- A California federal judge Monday dismissed a suit by Google-backed Magic Leap against two former executives who allegedly stole trade secrets, citing a confidential settlement the parties had reached.

The deal ends Florida-based Magic Leap Inc.'s suit filed in May 2016, just months after it announced that it had received $793 million from Alibaba Group Holding Ltd. and a consortium of private equity and institutional investors, including Google Inc. and Qualcomm Ventures, to develop virtual reality products.

The suit accused former Magic Leap Vice President of Special Projects Adrian Kaehler and former Senior Vice President Gary Bradski of conspiring for more than...

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