Synthes and Globus Settle Trade Secrets Dispute
By Press
A story from the Philadelphia Inquirer following up on a story we reported on here last month concerning the trade secrets dispute and trial between spinal implant makers, Synthes and Globus.
Globus agreed to pay Synthes a multimillion-dollar sum to resolve claims of trade secrets theft, but lawyers refused to provide details of the settlement. However, online publication Orthopedics This Week reports speculation by bloggers that Globus will pay Synthes some serious change, between $13 and $35 million.
According to the Inquirer, Synthes sued David Paul, its former head of spine-products development, and two other Globus executives. Paul left Synthes in 2003 to create Globus and recruited more than a dozen Synthes employees.
The settlement occurred mid-trial.
The Inquirer quoted one juror as stating that the "testimony was pretty damning for Globus." She stated that "Synthes produced copies of Globus and Synthes safety testing ratings with FDA. They were word for word, including typographical errors."
Synthes also called as witnesses Globus employees "who methodically resigned on Friday and started with Globus the next Monday for eight months in a row."
There it is: another big trade secrets settlement.
Globus agreed to pay Synthes a multimillion-dollar sum to resolve claims of trade secrets theft, but lawyers refused to provide details of the settlement. However, online publication Orthopedics This Week reports speculation by bloggers that Globus will pay Synthes some serious change, between $13 and $35 million.
According to the Inquirer, Synthes sued David Paul, its former head of spine-products development, and two other Globus executives. Paul left Synthes in 2003 to create Globus and recruited more than a dozen Synthes employees.
The settlement occurred mid-trial.
The Inquirer quoted one juror as stating that the "testimony was pretty damning for Globus." She stated that "Synthes produced copies of Globus and Synthes safety testing ratings with FDA. They were word for word, including typographical errors."
Synthes also called as witnesses Globus employees "who methodically resigned on Friday and started with Globus the next Monday for eight months in a row."
There it is: another big trade secrets settlement.
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