$59 Million Trade Secret Default Judgment Vacated in Florida

Florida is for vacations - and a Florida Court of Appeals just vacated a whopper of a trade secrets judgment amounting to $59 million.

Seems Alpha Mining Systems filed suit against its former employee, Sam Vance, for stealing their trade secrets and providing it to competitors in China and the United Arab Emirates. Since Vance didn't defend himself in the Florida trial court, Alpha Mining Systems put on evidence of their damages and the trial court entered a major-league judgment against Vance.

But on appeal Vance argued that the Florida court system has no jurisdiction over him. And the Florida appellate court agreed - apparently he lives in China and formerly lived in Virginia and did all his work for Alpha Mining Systems either in Virginia or China.

It's back to the drawing board for Alpha Mining Systems on this one.