Court Slams Phillips 66 With Trade Secrets Fine

Court Slams Phillips 66 With Trade Secrets Fine

A California court ruled that refiner Phillips 66 will have to pay $800 million to a biofuels-making company for stealing its trade secrets in order to build its own biofuels business. Per a Reuters report, the sum is split into $605 million in compensation for Propel Fuels and $195 million in punitive damages. The court said Phillips 66 had engaged in “abusive behavior” towards the company, which it at one point wanted to acquire, but, accordin…

Propel Fuels is Awarded $195 Million Additional Exemplary Damages for Trade Secret Misappropriation by Phillips 66, Bringing Total Award to More Than $833 Million

Kobre & Kim led litigation leading to one of the largest trade secret verdicts in U.S. history.

Phillips 66 Hit with $800 Million Penalty in Biofuel Trade Secrets Case - Energy News, Top Headlines, Commentaries, Features & Events

U.S. refiner Phillips 66 was ordered to pay biofuel maker Propel Fuels $800 million in damages for stealing trade secrets to build up its renewable-fuel capabilities, according to a California state court document. A state court in Alameda, California, on Wednesday ordered Phillips 66 to pay $195 million in punitive damages, in addition to $604.9 ...

Phillips 66 Hit with $800MM Penalty Over Biofuel Trade Secrets Case

A court found that that Phillips 66 engaged in “reprehensible” conduct when it approached Propel Fuels in 2017 with a proposal to acquire its renewable fuels business.