Federal Jury in California Awards Eldorado Stone $17 Million in Trade Secrets Case
By Todd
Eldorado Stone has issued a press release that the jury in the Eldorado Stone, LLC vs. Renaissance Stone Inc. awarded more than $17 million to Eldorado Stone. After a two and a half week trial in United States Federal Court, the jury agreed with Eldorado that Renaissance Stone Inc., former Eldorado employee Alfonso Alvarez, Renaissance President Joseph Smith and Robert Hager had misappropriated Eldorado’s trade secrets, infringed on Eldorado Stone trademarks, infringed on Eldorado Stone’s copyrights, and interfered in the economic relationships between Eldorado and its customers. The jury also awarded $3.85 million in punitive damages and attorney’s fees to Eldorado.
“This is a bittersweet victory for Eldorado Stone,” says Mike Lewis, President of Eldorado Stone. “The time and effort to prosecute this case has been a huge distraction. However, the clear decision by the jury underscores the value of our trade secrets and proprietary information. This intellectual property has taken years and even decades to develop and is worthy of protection.”
Lewis continued, “The men and women at Eldorado Stone have worked tirelessly over the years to help Eldorado become the leading, innovative stone manufacturer in this industry. We have never hesitated to, nor will we ever hesitate, to aggressively protect the intellectual property that represents the hard work of many individuals that have become the underpinnings of our business.”
Eldorado Stone is the designer and manufacturer of stone veneers used in construction. Their website can be found here: http://www.eldoradostone.com/flashsite/main.html
“This is a bittersweet victory for Eldorado Stone,” says Mike Lewis, President of Eldorado Stone. “The time and effort to prosecute this case has been a huge distraction. However, the clear decision by the jury underscores the value of our trade secrets and proprietary information. This intellectual property has taken years and even decades to develop and is worthy of protection.”
Lewis continued, “The men and women at Eldorado Stone have worked tirelessly over the years to help Eldorado become the leading, innovative stone manufacturer in this industry. We have never hesitated to, nor will we ever hesitate, to aggressively protect the intellectual property that represents the hard work of many individuals that have become the underpinnings of our business.”
Eldorado Stone is the designer and manufacturer of stone veneers used in construction. Their website can be found here: http://www.eldoradostone.com/flashsite/main.html
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