Court Slams Phillips 66 With Trade Secrets Fine ...Middle East

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Court Slams Phillips 66 With Trade Secrets Fine
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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, according to an earlier court verdict, it was only a ruse to steal Propel Fuels’ secrets. “In…

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