Jury Returns Verdict against M3 Technology in favor of Aspen Technology in Trade Secret Misappropriation, Copyright Infringement, and Tortuous Interference Action
Aspen Technology, Inc. (NASDAQ: AZPN) announced that a federal court jury has returned a verdict against M3 Technology in favor of AspenTech in a case against M3 Technology, Inc. in the U.S. District Court for the Southern District of Texas.
After a three-week trial, the jury found that M3 Technology had misappropriated AspenTech trade secrets, infringed copyrights in AspenTech's refinery planning and scheduling software, and tortuously interfered with AspenTech's confidentiality and non-competition agreement with a former AspenTech employee.
Mark E. Fusco, President and Chief Executive Officer of AspenTech, said, “Our employees have worked countless hours and AspenTech has invested millions of dollars over the years in developing our software solutions for our process industry customers. We are gratified by the jury's verdict protecting and enforcing our valuable intellectual property rights.”
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