Apple Settles Lawsuit Against Ex-Employee Who Stole Trade Secrets
Apple has settled a lawsuit against a former employee for allegedly stealing trade secrets and sharing those with a journalist.
The tech giant had filed a lawsuit against Simon Lancaster, a former design architect with the company, in March 2021.
According to Apple’s earlier lawsuit, Lancaster shared details of unreleased hardware, unannounced feature changes, and future product announcements with the correspondent.
Caliber Sues Union Home Mortgage for Raiding 51 Employees
Poaching wars are still ongoing and the lawsuits keep piling up. This time Caliber Home Loans is suing Union Home Mortgage Corp. in a lawsuit filed October 21 in U.S. District Court For the Northern District of Texas Dallas, claiming the lender raided 51 employees responsible for over $400 million in origination volume last year.
Kevin Cario was one of Caliber’s regional vice presidents for the Southeast region. Cario supervised approximately 51 Caliber employees — including 37 producing loan originators — in 18 locations. The lawsuit claims that Caliber’s direct competitor, Union Homes, conspired with Cario to “execute an illegal scheme of unfair competition by targeting and raiding Caliber employees, using/misappropriating Caliber’s trade secrets, and systematically and tortiously interfering with Caliber’s business relations and contracts.”
Significant MindMed Investor Demands Federal Investigation to Probe Serious Allegations of Misconduct
Today, FCM MM HOLDINGS, LLC (“FCM”) notifies shareholders that it has formally filed a complaint (the “Complaint”) with the Securities and Exchange Commission (the “SEC”) and will file a referral to the Department of Justice regarding allegations against Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) (“MindMed”, the “Company”). The Complaint focuses on the following allegations: self-dealing, lack of material disclosure, false statements/public statement fraud, and if the allegations are true, criminal activities, by CEO Robert Barrow, under Sarbanes-Oxley.
The Complaint presents and analyses the allegations in the lawsuit Freeman v. Burbank et al. (the “Lawsuit”) that MindMed’s intellectual property was mishandled due to a one-sided deal (the “Deal”) negotiated by Mr. Stephen Hurst, then MindMed’s CEO, and Mr. Carey Turnbull, CEO of Ceruvia Lifesciences LLC (“Ceruvia”). Mr. Hurst founded Ceruvia’s predecessor, purportedly in secret. If the Deal occurred, Ceruvia has undisclosed freedom to operate on MindMed’s IP surrounding LSD and its derivatives, and MindMed is not able to research or compete on BOL-148. The Complaint also lists Ceruvia executives who concurrently worked for MindMed during Messrs. Hurst and Barrow’s tenure and the implications for MindMed’s IP and trade secrets.
Former Hickory CEO Sentenced to 8 Years in Prison in $15M Embezzlement Scheme
The former CEO of a company in Hickory who is accused of stealing more than $15 million was sentenced to eight years in prison Thursday.
Earlier this year, Channel 9′s Dave Faherty reported that Donna Steele pleaded guilty to a wire fraud embezzlement scheme that involved Tigra, a company based out of Hickory.
After pleading guilty earlier this year, Channel 9 learned that as part of her plea agreement, Steele agreed to pay full restitution in the embezzlement case and is liquidating her assets.
Prosecutors said Steele had a multi-faceted embezzlement scheme, using her position to make more than $6 million in personal credit card purchases, approximately 98 checks totaling more than $2.8 million, 127 “QuickBooks transactions” totaling more than $4.7 million; and at least 117 wire transfers totaling more than $2.2 million.
Arrest made after $380k Embezzled from Altoona Law Firm
A Hollidaysburg man is facing charges after being accused of taking more than $380,000 from an Altoona law firm for various reasons, including a wedding and honeymoon.Adam Bush, 41, is currently facing half a dozen felony charges in connection to the embezzlement that reportedly started back in 2019.
According to the criminal complaint, Bush began writing checks to himself shortly after one of the partners at the firm retired in 2018, allegedly forging that partner’s name on the checks. Bush reportedly claimed later that he also forged another partner’s name because they were the two easiest to copy.
ECFiber Operator says Contractor Embezzled $600,000; Accused Nowhere to be Found
A Northfield, Vt., man is accused of embezzling more than $590,000 from ValleyNet, the nonprofit that operates ECFiber, and using the money to buy real estate in other states, according to a lawsuit filed in Vermont State court.
ValleyNet has filed a lawsuit against John Van Vught alleging that, over a period of seven years when he worked as a contract accountant for the company, Van Vught, 72, diverted money from ValleyNet’s bank accounts at Northfield Savings Bank into his own pocket and which was only uncovered when a new finance director joined the company.