Two weeks after handing down a $48 million compensatory damage judgment, a federal jury in Miami has awarded an additional $30 million in punitive damages to AlphaMed Pharmaceuticals. AlphaMed had accused Arriva Pharmaceuticals of stealing trade secrets, namely the patent to a "miracle drug," then steering investors away from AlphaMed. The verdict capped a trial punctuated by allegations that a private investigator hired by Arriva rifled through AlphaMed's trash and pushed the FBI to investigate AlphaMed.
January 06, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Two weeks after handing down a $48 million compensatory damage judgment, a federal jury in Miami has awarded an additional $30 million in punitive damages to a Clearwater, Fla.-based pharmaceutical company and its owners.
AlphaMed Pharmaceuticals and its owners, the Lezdey family, had accused Alameda, Calif.-based Arriva Pharmaceuticals of stealing trade secrets, namely the patent to a “miracle drug,” then steering investors away from AlphaMed.
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