Caterpillar hit with $73m trade secrets verdict in Chicago

Caterpillar was ordered to pay damages of $73.6m (€67.7m) in a lawsuit by a former supplier that accused the equipment manufacturer of misappropriating its trade secrets.

A federal jury in Chicago on Friday awarded the damages to Miller UK Ltd, a British manufacturer whose case drew attention because the firm funded its suit with financing from third-parties not involved in the dispute.

The verdict was confirmed yesterday by Reed Oslan, a lawyer for Miller, which filed the lawsuit in 2010.