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.
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.