Client Wins $5 Million for Destruction of Insurance Agency
(Identities Confidential) Callahan & Blaine represented an insurance broker that operated a renowned professional liability insurance program for over 500 hospitals. The client brought an action for trade secret misappropriation, unfair competition, interference with contract and related torts against one of the largest nationwide insurance companies in the United States. The insurance company had tortiously misappropriated the client's trade secrets and used these trade secrets to unfairly compete in an attempt to steal the client's hospital clientele. The client was driven into bankruptcy and ultimately ceased to exist as a result of the insurance company's tortious conduct. The case was extensively litigated over two years, with over 100 days of deposition conducted by C&B, including multiple days of the insurance company's senior executives (ie. CEO, President, Chairman of the Board, etc.). The case was settled prior to trial for five million dollars.
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