Spectrum Dynamics sues GE for trade theft

Spectrum Dynamics said that it filed lawsuit today accusing GE (NYSE:GE) of trade theft and misappropriation of intellectual property over the patents covering its Veriton nuclear medicine device.

The New York City-based company said the suit alleges that the industrial conglomerate “deliberately, repeatedly and with fraudulent intent” misappropriated Spectrum’s technology and know-how concerning its Veriton single-photon-emission computed tomography device.

“The patents that GE filed relating to the technology and design of what would become the Spectrum Dynamics Veriton are based directly on Spectrum Dynamics’ trade secrets and inventions, which were stolen by GE,” the company alleged.

The suit seeks to bar Boston-based GE from using or benefitting from the “trade secrets and novel ideas they egregiously stole,” Spectrum Dynamics said, and bids for preliminary and permanent injunctions “to prevent GE’s continued exploitation of Spectrum’s intellectual property.” The complaint includes claims for unfair competition and seeks to correct “inventorship” and take over the GE patents that allegedly claim Spectrum’s inventions.

The lawsuit, filed in the U.S. District Court for Southern New York, is under seal, a Spectrum Dynamics spokesman told MassDevice.com.

“By stealing Spectrum Dynamics’ inventions, GE avoided years of its own R&D efforts and considerable expense in an effort to hasten the development of its own directly competing device,” Spectrum president & CEO Michael Joos said in prepared remarks. “GE sought a shortcut to a technology that its own engineers were unable to develop. GE had no right to patent and produce technology it stole and should be prevented from going to market with it.

“The technology and knowledge that Spectrum Dynamics pioneered are incredibly valuable, as they bring the benefits of broad digital adoption to SPECT imaging, driving improved clinical patient outcomes and reduced costs for hospitals,” Joos added. “While it is regrettable that we are forced to file a lawsuit against GE, we were left with no choice. As a pioneer in full-body digital nuclear imaging systems, we will aggressively defend our inventions against these illegal actions by GE.”

Last month Spectrum won 510(k) clearance from the FDA for the Veriton-CT 64 SPECT/CT scanner.

The post Spectrum Dynamics sues GE for trade theft appeared first on MassDevice.

from MassDevice https://ift.tt/2PlWsWw