Carl Zeiss Meditec AG Reaches Favorable Legal Settlement with Topcon [Yahoo! Finance]
CARL ZEISS MEDI UNSP/ADR (CZMWY)
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Source: Yahoo! Finance
The settlement includes undisclosed financial payment to Carl Zeiss Meditec as well as other penalties for Topcon's role in trade secret theft and misappropriation DUBLIN, Calif. Feb. 1, 2024 /PRNewswire/ -- Carl Zeiss Meditec AG announced today that it has reached a favorable resolution with Topcon to settle its lawsuit against the Japanese company's U.S.-based subsidiaries that had been pending in U.S. federal court for the Northern District of California . The settlement reinforces the protection of ZEISS's trade secrets and restores a level playing field for fair competition. The lawsuit asserted that Topcon had illicitly obtained stolen ZEISS files that included highly confidential information. Previously, the court had issued a preliminary injunction against Topcon, and more recently denied Topcon's motion for summary judgment on ZEISS's claims of trade secret misappropriation. Jury trial had been set to begin in February 2024 As part of the settlement, Topcon agreed to sev
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