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Raytheon: Appeals Court Reverses Decision on Trade Secret Theft Damages

By Victoria Stilwell Raytheon Co. (RTN) said it will continue to pursue claims against two companies for damages resulting from theft of trade secrets and misappropriation of intellectual property after the U.S. Court of Appeals favorably reversed an August 2009 decision by a federal district court in Texas. The court overturned the district court's decision regarding claims against Indigo Systems Corp. and Flir Systems Inc. (FLIR) relating to infrared camera technology. In 2009 Flir said Raytheon's claims were based on allegations that Indigo hired former Raytheon employees to obtain knowledge of the defense contractor's trade secrets about infrared camera technology, according to the Associated Press. The district court in its earlier ruling held that Raytheon should have suspected wrongdoing and brought the lawsuit earlier, thus barring the company's claims. The appeals court held that Raytheon claimed it "reasonably" relied on the two companies' assurances that safeguards were in place to protect Raytheon's trade secrets. The court of appeals has revived the case, saying the district court improperly resolved genuine issues of material fact against Raytheon and intruded on the province of a jury. The case has been returned to the district court for further proceedings. Shares of Raytheon slipped 1.1% to $54.29 in recent trade, while shares of Flir fell 1.8% to $20.32. Raytheon stock is up 24% in the past 12 months, while Flir is down 22% in the same time period. Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Raytheon (RTN)
DateTimeHeadline
02/05/201609:22:00Raytheon to complete modernization of air traffic control system...
02/04/201608:00:00Raytheon partners with Totara Learning to offer flexible, innovative...
02/03/201617:13:34Statement of Changes in Beneficial Ownership (4)
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01/28/201623:44:00Defense Companies Feel Oil's Knock
01/28/201620:11:00Raytheon kill vehicle succeeds in developmental flight test
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01/28/201618:56:00Raytheon awarded $564 million contract for Joint Polar Satellite...
01/28/201610:22:00Raytheon Posts Better-than-Expected Profit
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01/28/201607:01:57Current Report Filing (8-k)
01/28/201606:55:00Raytheon Reports Solid Fourth Quarter and Full-Year 2015 Results
01/28/201604:20:00South Korea Warms to U.S. Missile Shield
01/26/201617:04:26Statement of Changes in Beneficial Ownership (4)
01/22/201617:07:33Statement of Changes in Beneficial Ownership (4)
01/22/201608:00:00NASA recognizes Raytheon for small business support
01/21/201612:17:00DARPA taps Raytheon to make infantry squads more adaptive, aware...
01/20/201622:08:00Award-winning Raytheon programs help inspire students in Colorado...
01/20/201615:00:00Raytheon's enhanced Coyote UAV flies into hurricanes for NOAA

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