Protege Biomedical Loses Bid to Revive Trade Secrets Lawsuit

Protege Biomedical LLC failed on Monday to convince the Eighth Circuit to revive a trade secrets lawsuit it brought against a consultant it had hired to find a potential buyer.

Protege sued the potential buyer, a competitor called Z-Medica, alleging it stole trade secrets and violated non-disclosure agreements. Once Z-Medica settled that case, Protege filed claims against Duff & Phelps Securities LLC, the consultant that had identified the potential buyer.

The U.S. District Court for the District of Minnesota tossed the suit, and the U.S. Court of Appeals for the Eighth Circuit affirmed that ruling in a split decision.

Protege ...