GE Hits Siemens Energy With Trade Secrets, Bid-Rigging Suit
Law360 (January 14, 2021, 11:34 PM EST) -- General Electric Co. on Thursday accused Siemens Energy Inc. of using its trade secrets to fix highly sought-after gas turbine contracts, telling a Virginia federal court that Siemens partly exploited the confidential information to secure contracts to augment its September initial public offering.
The alleged misconduct can be traced back to a current Siemens account manager, who knowingly and surreptitiously received GE's trade secrets using his personal email address during a confidential bidding process, GE said in its complaint. Instead of destroying the information, he forwarded them to his work email address and "widely disseminated them to dozens of other Siemens...
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