The US District Court for the District of Massachusetts ordered EOFlow (KOSDAQ:294090) to pay $452 million to Massachusetts-based medical device company Insulet Corporation in damages for misappropriating the latter's trade secrets.
The fine comprises $170 million in compensation and $282 million exemplary for willful misappropriation. The South Korean smart wearable drug delivery solution provider's ability to pay the amount remains unclear, according to a press release by Insulet on Wednesday.
Shares of EOFlow plunged nearly 30% at market close on Thursday.
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