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Walmart hit with $115m trade secrets bill
13-04-2021
18-05-2016
Walmart must pay agricultural technology company Ecoark $115 million after it was found to have misappropriated trade secrets.
Ecoark, which owns Zest Labs, sued Walmart in August 2018, claiming that the supermarket chain had wrongfully used and disclosed Zest trade secrets concerning technology for reducing food waste.
A jury at the US District Court for the Eastern District of Arkansas found on Friday that Walmart was liable for three claims, including trade secrets misappropriation and failure to comply with a written contract.
The jury awarded $65 million in compensatory damages, as well as $50 million in punitive damages for Walmart’s “willful and malicious” conduct.
Walmart ordered to pay $115 million for breach of contract, stealing trade secrets Agtech company Zest Labs won a $115 million verdict against Walmart Friday.
A federal jury in Little Rock ruled that Walmart stole trade secrets from Agtech company Zest Labs, a breach that came with a $115 million judgement.
The ruling against Walmart came after a two-week trial in
U.S. District Judge James Moody’s court in Little Rock. This is believed to be the largest jury verdict ever in Arkansas.
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San Jose, California-based Zest Labs specializes in technology to reduce food waste and move food as quickly as possible from farm to table. In their suit, Zest contended that while they were doing business with the Bentonville-based retail giant, Walmart learned about Zest’s proprietary technology and stole it for themselves.