US Court Verdict Says Caterpillar Inc. to Pay $73.6 Million to Miller UK Ltd.
On Friday, a federal jury in Chicago ordered Caterpillar Inc. to pay $73.6 million in damages related to a lawsuit by Miller UK Ltd. The company which is a former supplier of Caterpillar alleged the equipment manufacturer headquartered in Peoria, Illinois of misappropriate its trade secrets.
The lawsuit initiated by Miller UK Ltd, drew attention as the company's lawsuit was funded by third-parties who were had no role to play in the dispute.
The lawsuit was filed in 2010 and the recent verdict was confirmed by Reed Oslan, a lawyer of the British manufacturer on Monday.
As per the lawsuit, Miller for long has been supplying a device called a coupler to Caterpillar. It is a mechanism that allows operators of a hydraulic excavator to attach certain tools like buckets and hammers.
In the year 2008, a new coupler product was created by Caterpillar which in turn ended the supply agreement with Miller. According to Miller, the product that Caterpillar developed was based on confidential information which Miller supplied it with and alleged that the company has misappropriated its trade secrets.
The legal circle finds the case interesting mainly to note how Miller, which is a family-owned business running with hundred employees, financed the court case with help of third parties who are not involved in the case.
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