Marketwire Sues PR Newswire for $25 Million
Canada’s Marketwire has filed a $25 million lawsuit against PR Newswire, accusing its competitor of causing “irreparable harm,” according to Reuters. The lawsuit alleges that PR Newswire hired Marketwire staffers and then extracted trade secrets and other confidential information from them. The lawsuit was filed in New York.
Among the co-defendents in the case are Shoeb Ansari who worked for Marketwire until June 2010 and now serves as PR Newswire’s chief technology officer and three former staffers who only resigned in recent weeks.
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