Updated
Updated · Bloomberg Law · Jun 9
Florida Court Awards Accellix $25,225 in Fiduciary Duty Case
Updated
Updated · Bloomberg Law · Jun 9

Florida Court Awards Accellix $25,225 in Fiduciary Duty Case

1 articles · Updated · Bloomberg Law · Jun 9

Summary

  • $25,225 was awarded to Accellix by a Florida federal court in disgorgement and severance repayment against a former associate director of scientific affairs.
  • The court found he breached his common-law duty of loyalty by providing private consulting services to Accellix prospective customers while still employed.
  • Those consulting services directly competed with Accellix's flow cytometry business, forming the basis for the judgment in the company's favor.

Insights

A director paid $25k for disloyalty. Is this a real deterrent in the billion-dollar cell therapy market?
Beyond lawsuits, how can biotech firms stop key scientists from secretly competing for valuable clients?
When does an expert's paid side-consulting cross the line into a faithless betrayal of their employer?