Tag Archives: Lifeplan

$6 million profits to be handed over following confidentiality breach

Two employees of Lifespan breached their fiduciary duties to their employer by approaching a competitor, Foresters, with a business plan that contained Lifespan’s confidential information. In doing so they sought to convince Foresters’ Board to enter into a joint venture and adopt the business plan for their own future benefit and for the benefit of Foresters.

The Federal Court held that the employees had taken advantage of their positions with Lifespan by misusing and disclosing Lifespan’s confidential information and ordered them to hand over their profits of approximately $50,000 from the venture. However, the Court did not also hold Foresters liable.

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