Jury: Caterpillar (CAT) Guilty of Stealing Trade Secrets

Caterpillar Inc. CAT has been adjudged guilty by Chicago’s federal court for stealing trade secrets from Cramlington, England-based supplier, Miller UK Ltd and ordered to pay damages of $73.6 million. Following the decision, Caterpillar spokesperson said that the company was “disappointed” by the ruling, and would be “considering our (Caterpillar’s) next steps in this litigation”, signaling a possible appeal from Caterpillar. 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.

As per the lawsuit, Miller for long has been supplying a device called a coupler to Caterpillar.

The verdict was confirmed on Monday by Reed Oslan, a lawyer for Miller, which filed the lawsuit in 2010.

But they cancelled the contract suddenly in 2008, and Miller UK had to make 300 workers redundant. Caterpillar won $1 million back from Miller for its counterclaim of defamation, for claims Miller made in a video about Caterpillar’s rip-off design.

He said the family that owns Miller plans to use its funds to repay debts, shore up the business and rehire employees.