True Velocity sues Sig Sauer, alleging stolen trade secrets [Yahoo! Finance]
General Dynamics Corporation (GD)
Last general dynamics corporation earnings: 4/29 07:00 am
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Source: Yahoo! Finance
The companies are competing against each other to produce the U.S. Army's Next-Generation Squad Weapon worth an estimated $4.5 billion. Sig Sauer won that competition in April 2022. Those first weapons from Sig Sauer were delivered to soldiers from the 101st Airborne Division at Fort Campbell, Kentucky, last month. The complaint filed on April 9 in Vermont Superior Court lays out True Velocity's claim that Sig Sauer “brazenly and wrongfully misappropriated Plaintiff's trade secrets to obtain an unfair competitive advantage.” Lone Star originally teamed with General Dynamics Ordnance & Tactical Systems in 2021 for the NGSW competition where GD-OTS transferred its technical data and marketing materials for the LMMG and NGSW to Lone Star. Lone Star then took over as the prime contractor in the NGSW competition and further design activities of the program. GD-OTS, over nearly two decades, developed trade secrets through research and development in Vermont at two sites focused on ar
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GD
Earnings
- 4/24/24 - Miss
GD
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/29/24 - Form 144
- GD's page on the SEC website