Jury Awards $26.5M to MSC Software
NEWPORT BEACH, Calif. — (BUSINESS WIRE) — April 14, 2014 — MSC Software Corporation, a global leader in helping product manufacturers to advance their engineering methods with simulation software and services, today announced that a jury in the United States District Court for the Eastern District of Michigan found that Altair Engineering willfully and maliciously took MSC Software trade secrets to use in its MotionSolve® product. The jury awarded MSC Software $26.1M for misappropriation of trade secrets and breach of confidentiality agreements by Altair and two former MSC employees who currently hold executive positions at Altair. The jury also found that two former MSC Software employees breached non-solicitation restrictions contained in agreements they had with MSC and that Altair tortiously interfered with the MSC non-solicitation restrictions with these individuals, and awarded MSC an additional $425,000.
“The jury has spoken,” stated Dominic Gallello, President & CEO of MSC Software. “We welcome vigorous competition in the market. Every company has a right to innovate, but no company should be allowed to misappropriate a competitor’s intellectual property. We continue to make significant investments in the Adams technology to serve our customers and maintain our market leading position.”
About MSC Software
MSC Software is one of the ten original software companies and a global leader in helping product manufacturers to advance their engineering methods with simulation software and services. As a trusted partner, MSC Software helps companies improve quality, save time, and reduce costs associated with design and test of manufactured products. Academic institutions, researchers, and students employ MSC’s technology to expand individual knowledge as well as expand the horizon of simulation. MSC Software employs 1,100 professionals in 20 countries. For additional information about MSC Software’s products and services, please visit: www.mscsoftware.com
The MSC Software corporate logo, Simulating Reality, MSC Nastran, Adams, Actran, Digimat, Dytran, Easy5, Marc, Patran, MSC, MasterKey, MasterKey Plus, MaterialCenter, SimDesigner, SimManager, and SimXpert are trademarks or registered trademarks of MSC Software Corporation and/or its subsidiaries in the United States and/or other countries. Nastran is a registered trademark of NASA. MotionSolve is a registered trademark of Altair Engineering Inc. All other trademarks belong to their respective owners.
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