Reported 3 days ago
U.S. refiner Phillips 66 has been ordered by a California court to pay $800 million in damages to Propel Fuels for stealing trade secrets. The court found Phillips 66's conduct 'reprehensible', determining that the company misused its position during negotiations to gather information for a competing business. This penalty includes $195 million in punitive damages on top of $604.9 million in compensation awarded in a separate verdict.
Source: YAHOO