Globus Medical

Audubon, PA: (Aug-21-07) Synthes brought a lawsuit against Globus Medical, alleging that the spinal implant manufacturer solicited and hired employees from its plant. The suit stated that David Paul, the co-founder and CEO of Globus, was previously the head of spine products development at Synthes. He recruited four other Synthes managers to help launch Globus Medical in 2003. Synthes, a Swiss company that has its US headquarters in West Chester, PA, sued Paul and Globus alleging the company misappropriated trade secrets. Globus accused Synthes of libel and interfering with contractual relationships. As part of a settlement reached, Globus Medical of Audubon, PA, will pay Synthes $13.5 million. In addition, Globus agreed not to solicit or hire any Synthes employees until Aug. 19, 2008. Though Globus made no any admission of liability or wrongdoing, it agreed to settle to avoid the costs and risks associated with protracted litigation. [PHILADELPHIA BUSINESS JOURNAL: EMPLOYEE SOLICITING]

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Published on Aug-23-07