Insurer Wants Out Of Software Trade Secrets Suit Coverage

By Ganesh Setty (July 27, 2022, 7:48 PM EDT) — A Nationwide unit told a Tennessee federal court that it should have no duty to cover damages or profits a software company may pay back after it was accused of unlawfully obtaining another company’s trade secrets to develop its own competing software.

Scottsdale Insurance Co. said in its complaint Tuesday against Illinois-based Provana LLC that its policy bars coverage for the restitution, disgorgement, punitive, exemplary and treble damages that Palinode LLC has sought from Provana.

According to Tuesday’s suit and underlying court filings, Palinode first sued Provana and another company, Plaza Services LLC, in September 2020 in Tennessee state court and…

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