Secrets Theft Dulled Competitive Edge, Energy Trader Testifies

Law360, Houston (February 20, 2020, 10:01 PM EST) -- Saracen LLC suffered unknowable financial damage and lost a major advantage after a former software developer allegedly sold a rip-off of its proprietary data analysis program to competitors, a supervisor at the company told a Houston federal jury Thursday in a $2.6 million trade secrets trial.

Jason Miller, a trader in a supervisory role at the firm, testified that the industry is extremely secretive — even between individual traders at the same firm — because everyone is competing for the same potential pot of money. Saracen's proprietary VisualNode program analyzes power-grid data, giving the firm's traders an edge and contributing to...

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