Oil & gas giant phillips 66 (PSX.US) was convicted of stealing trade secrets and will pay over 0.6 billion dollars in compensation.
The jury from Oakland agreed to Propel's accusations that Phillips 66, headquartered in Houston, used the pretext of gathering potential acquisition information to steal the company's trade secrets, and then used these secrets to create a competitive business.
Piper Sandler Maintains Phillips 66(PSX.US) With Buy Rating, Maintains Target Price $144
Oil Company Phillips 66 Says It Will Shut Down Los Angeles-area Refinery
Phillips 66 to Close Los Angeles Refinery in 4Q of 2025
Express News | Phillips 66 - Engages Catellus and Deca for Site Redevelopment
Express News | Phillips 66 - Closure to Impact Approximately 600 Employees and 300 Contractors