June 21, 2016 By Brad Perriello
The U.S. Supreme Court yesterday declined to review Globus Medical‘s (NYSE:GMED) $4.3 million loss to the physician who invented some of its spine implant technology.
Dr. Sabatino Bianco sued Globus in March 2012, alleging that the company’s Caliber, Caliber-L and Rise adjustable interbody spacers were based on trade secrets stolen from him in 2007. In January 2014, a jury in the U.S. District Court for Eastern Texas found that Globus had stolen the trade secrets but was not liable for breach of contract, awarding damages of $4.3 million, according to court documents.
