Valley Forge Scientific Corp.
Medical devices companies announce winning lawsuit against Hurst and McGowan
Published in Law and Health Weekly, October 29th, 2005
Valley Forge Scientific Corp. (VLFG) and Synergetics, Inc., a privately held corporation, announced that a federal jury found that Charles Richard Hurst, Jr. and Michael McGowan, each believed to be a 50% owner of Innovatech Surgical, Inc., intentionally interfered with Synergetics' business relationships including any current Innovatech customers who are also former Synergetics customers.
The jury further found that Hurst and McGowan misappropriated trade secrets, breached confidentiality agreements, breached fiduciary duties, including the duty of loyalty. The jury awarded Synergetics $1,759,165 in actual damages and $586,388 in punitive damages.
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