Siemens Hijacked Joint Venture to Get Trade Secrets, Suit Says

Siemens Energy Inc. was hit with a lawsuit in Delaware claiming it’s using its control over a manufacturing joint venture to misuse intellectual property belonging to venture partner Chromalloy Gas Turbine LLC and bury it under a mountain of debt.

Siemens “has attempted to justify its conduct by claiming” it yields “strategic benefits,” but it’s “extracting those benefits for itself” at “Chromalloy’s expense, and its conduct is irreconcilable with its contractual commitments,” the complaint says.

Siemens didn’t immediately respond to a request for comment Thursday.

The partly redacted derivative lawsuit, made public late Wednesday in Delaware Chancery Court, concerns the ...