On Aug. 17, the U.S. District Court for the Western District of Washington confirmed a final award of more than $5.6 million, issued to Verasonics, in a binding arbitration. The court found Alpinion Medical Systems Company had breached non-disclosure and lease agreements and misappropriated Verasonics’ intellectual property.
The 2014 suit was filed because Versonics, an ultrasound developer based in Kirkland, Washington, believed its confidential information was misused by South Korea-based Alpinion in releasing an ultrasound platform.
“We are grateful for the arbitrator’s decision to issue the Final Award so clearly in our favor,” said Lauren Pflugrath, president and CEO of Verasonics. “We continue to expand and build positive collaborative partnerships, but must insist on protecting our intellectual property.”
The $5.6 million award includes $2.9 million in compensatory damages and $2.7 million in attorney’s fees, arbitration fees, and other expenses.