AI Company – Successful Settlement in Trade Secrete Dispute

Herrick represented an AI company serving the financial services sector and a senior executive in a trade secret dispute. In this matter, the executive’s former employer initiative a lawsuit in New York Supreme Court seeking a TRO and other injunctive relief which, after Herrick’s opposition, the Court denied. The former employer dismissed the lawsuit shortly thereafter. Herrick subsequently sued the former employer in arbitration for a declaratory judgment exonerating our clients—both the company and the executive. We simultaneously started a new lawsuit in New York Supreme Court against the former employer for fraud and tortious interference against our clients. A settlement was quickly negotiated on terms very favorable for our client, including the payment of attorneys’ fees and costs for our client.