Federal Court Rejects Veeva’s Attack on Medidata’s Theft of Trade Secret Claims
NEW YORK--(BUSINESS WIRE)--Nov 29, 2018--The United States District Court for the Southern District of New York has rejected Veeva’s motion to dismiss Medidata’s complaint against Veeva for theft of trade secrets, the company announced today.
“The Court’s decision allows us to continue with our effort to hold Veeva accountable for its illegal and unethical misappropriation of Medidata’s valuable proprietary information and trade secrets,” said Erik Snider, senior director of corporate communications at Medidata. “For close to 20 years, Medidata has been a market leader through constant innovation, strong customer relationships and a firm commitment to advancing science, all while operating with integrity. Medidata recognizes and respects the importance of intellectual property. We remain steadfast in the protection of our trade secrets, which our employees have worked so hard to create.”
In Monday’s decision:The Court rejected Veeva’s argument that the complaint’s description of Medidata’s trade secrets was insufficient. To the contrary, the Court stated that the allegations were detailed and thorough, and the court upheld each and every one of the claims that Medidata asserted against Veeva.
Medidata alleges that Veeva willfully and deliberately stole the company’s trade secrets, which include confidential and proprietary information relating to the development, marketing and sale of Medidata’s industry-leading technology solutions and services for clinical research and trials.
In its complaint, Medidata explains how Veeva obtained Medidata’s trade secrets and confidential information by deliberately targeting Medidata’s employees and inducing them to violate their contractual and other obligations to Medidata, rather than competing fairly with Medidata on a level playing field.
Medidata’s complaint seeks injunctive relief and recovery of damages that it has suffered as a result of Veeva’s theft and use of its trade secrets.
Medidata (NASDAQ:MDSO) is leading the digital transformation of life sciences, with the world’s most used platform for clinical development, commercial, and real-world data. Powered by artificial intelligence and delivered by the #1 ranked industry experts, the Intelligent Platform for Life Sciences helps pharmaceutical, biotech, medical device companies, and academic researchers accelerate value, minimize risk and optimize outcomes. Medidata serves more than 1,000 customers and partners worldwide and empowers more than 100,000 certified users every day to create hope for millions of patients. Discover the future of life sciences: www.mdsol.com
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CONTACT: Medidata Solutions
Betsy Frank, +1 917-522-4620
Erik Snider, +1 646-362-2997
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE HEALTH BIOTECHNOLOGY
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PUB: 11/29/2018 08:30 AM/DISC: 11/29/2018 08:30 AM