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Final Superior Court Ruling on Trade Secret Lawsuit Favors Volcano Corporation and Its Axsun Subsidiary
Date:2/10/2011

SAN DIEGO, Feb. 10, 2011 /PRNewswire/ -- The Superior Court of Massachusetts entered a Final Judgment today incorporating the Court's earlier rulings rejecting the claims of LightLab Imaging that either Volcano Corporation (www.volcanocorp.com) or its wholly owned subsidiary Axsun Technologies, Inc. used LightLab trade secret information in the development of the Volcano Optical Coherence Tomography ("OCT") System or the Axsun OCT laser.  LightLab is an indirect wholly-owned subsidiary of St. Jude Medical, Inc.

"After two-plus years of litigation, we are gratified by the Court's decision.  Neither Volcano nor Axsun used any of LightLab's purported trade secrets in Volcano's development of its OCT System, or Axsun's OCT tunable laser," said Scott Huennekens, President and Chief Executive Officer of Volcano.  "With LightLab's trade secret allegations now behind us, we will continue to focus our energy on developing key products that improve patient care," said Huennekens.

The Final Judgment followed prior written Court decisions in which Judge Margaret Hinkle:

  • Found that "Axsun indisputably has technology and product capability developed independently of LightLab during its decades of work on tunable lasers."
  • Rejected as "conjecture" many of LightLab's trade secret misappropriation claims, finding an "absence of credible evidence" that either Axsun or Volcano used those trade secrets.  
  • Described as "circumlocutions" the sworn testimony of LightLab's Chief Technology Officer, but found the sworn testimony of Axsun, including that of Axsun's Director of Advanced Products and Technology, as "credible."
  • Ruled that "no contractual obligation mandated that Axsun or LightLab continue joint development beyond what the Agreement provided."

The Final Judgment found Massachusetts Consumer Protection Law (Chapter 9
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SOURCE Volcano Corporation
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