On Tuesday, Pharmazam filed a suit against defendant Thermo Fisher Scientific. The plaintiff is alleging that the defendant misappropriated their trade secrets when they used their business information in a report under the name of a competing company.
Pharamzam, the complaint says, provides “genetic testing services to enable consumers and various medical professionals to better determine the most beneficial course(s) of treatment for a particular patient.” Since they use vendors, business partners, and affiliates as a part of their business, they regularly sign non-disclosure and confidentiality agreements with them. The defendant, Thermo Fisher, entered into a non-disclosure agreement with the plaintiff.
Following this agreement, the defendant allegedly entered into a business relationship with Unlock MyDNA, a company who conducts “substantially identical genetic tests and provide services to consumers that are substantially identical to those provided by Pharmazam.” This business relationship led to the defendant publishing a report containing various proprietary information. Despite the report title crediting the information as Unlock MyDNA’s, the plaintiff asserts that “all of the data in that report is in fact Pharmazam’s confidential and proprietary business information, and a significant portion of the data contained in that report is actually identified as Pharmazam’s data.”
Pharmazam states that regardless of how Thermo Fisher obtained the confidential information and trade secrets, they knew or should have known about the nature of the information it was publishing and should not have published the information. Pharmazam is seeking favorable judgement against Thermo Fisher, damages, post-judgement interest, litigation fees, and any other relief deemed proper by the Court.
Contact ITMG to Develop Strategies and Protocols Designed to Help Your Company Mitigate Your Insider Risk
ITMG is an industry leader in helping organizations throughout the United States strengthen their insider risk management programs and secure sensitive data and intellectual property. Our team of bona fide experts has the real-world experience necessary to plan out and create holistic security solutions tailored to the needs and risks in your industry. Contact ITMG today to learn more about how we can help! You can also visit our Facebook, Twitter, and LinkedIn pages for more updates and insights into the world of insider risk management.