Saia Hits LinkEx Co-Founder With Trade Secrets, Noncompete Suit

March 19, 2020, 7:20 PM

Shipping logistics company Saia Inc. filed a lawsuit in Delaware Thursday claiming a co-founder of recent acquisition LinkEx Inc. breached noncompete and nonsolicitation agreements when he took clients and trade secrets to rival Perimeter Global Logistics.

Saia allegedly paid Clay Price $1.9 million for his 10% stake in LinkEx in 2015, when it bought the smaller logistics company and made it a subsidiary. Price also became a $400,000-a-year LinkEx employee, though his salary was reduced to $200,000 over time based on his lack of sales, according to the Chancery Court complaint.

Both the purchase agreement and Price’s employment contract contained ...

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