Oct 17, 01:30 PM

Phillips 66 Ordered to Pay $604.9 Million to Propel Fuels in Trade Secrets Case

Phillips 66 has been ordered to pay $604.9 million in damages to Propel Fuels after a California state court jury found the energy company guilty of stealing trade secrets. Propel Fuels, a low-carbon fuel provider, accused Phillips 66 of misusing confidential information, including sales data and pricing methods, which was gathered during acquisition discussions between 2017 and 2018. The jury concluded that Phillips 66 used this information to enhance its renewable-fuel capabilities, leading to the substantial verdict in favor of Propel Fuels.

#Phillips 66 #Propel Fuels #California

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