The case is General Electric Co. v. Siemens Energy Inc., 21-25, U.S. District Court for the Eastern District of Virginia (Richmond).
A Siemens Energy AG company was accused by General Electric Co. (GE.N) of utilizing stolen trade secrets to rig contracts for the supply of gas turbines to public utilities and conceal illegal financial profits worth more than $1 billion.
In a lawsuit filed in Virginia federal court, GE said that the theft began in May 2019 when Siemens Energy Inc. and other industrial giants competed to supply Dominion Energy Inc. with gas turbine equipment and maintenance (D.N). On the east coast, nearly 4 million consumers receive electricity from Dominion, a Virginia-based power company.
In order to help the American division of the German corporation unfairly secure at least nine gas-turbine contracts, GE alleged Siemens Energy utilized proprietary information regarding GE’s gas turbines. GE said these contracts were valued billions of dollars. GE alleges that private financial, commercial, technical, and engineering data was obtained.
Before asking for the lawsuit to be dismissed, GE requested an injunction that would restrict who might work on additional Siemens bid proposals.
The extent of the information one of Siemens’ account managers discovered during the bidding process for a project that has now been terminated, according to Siemens, was exaggerated by GE. The business claimed to have let go of a number of workers, deleted the relevant data from its records, and voluntarily informed GE of the security lapse.
The legal disputes between the two industrial behemoths over power-generation equipment, which are essential to each company’s product lineup, were preceded by the trade secrets dispute.
Additionally, GE filed a patent infringement lawsuit against Siemens Gamesa Renewable Energy SA, which was created by the union of Gamesa Corp. Tecnologica SA and Siemens AG’s wind division. Earlier this month, a judge for the U.S. International Trade Commission ruled that Siemens Gamesa had violated a GE patent that expires in May 2023 but not another one that doesn’t expire for another decade.
According to a court document, Siemens Energy AG and General Electric Co. have settled their bitter legal dispute over trade secrets pertaining to gas-power turbines.
The document, in which the businesses requested that a lawsuit brought by GE against Siemens be dismissed, didn’t provide any information about the agreement’s terms. GE acknowledged the payment but gave no other information.