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Intellectual Property Law

: The Trade Secrets Vault

International Rectifier sues former CEO for theft of trade secrets

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A hearing is expected by early February regarding a federal lawsuit in the California Central District Court filed on 8 September by power-management chip maker International Rectifier Corp (IR) of El Segundo, CA, USA against former CEO Alexander Lidow (son of Eric Lidow, who founded IR in 1947 and was chairman until last May). After starting work at IR in 1977, Dr Alex Lidow was CEO from 1995 until October 2007. He resigned following an investigation by an IR-appointed independent audit committee revealed that April that accounting irregularities (including premature revenue recognition of product sales at the firm's Japanese subsidiary) had cost IR about $117m, forcing it to restate two years of earnings. To continue reading this interesting article from Semiconductor Today, click here.

Full post as published by The Trade Secrets Vault on January 24, 2009 (boomark / email).

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