IPO-Bound Zetwerk Sued By Ayr Energy In US, Faces $1 Bn Damages Claim
India, July 22 -- Months after Zetwerk accused Ayr Energy and its founder of using stolen confidential information to build a rival business, the US-based transformer startup has hit back with legal claims of its own.
Ayr Energy has accused Zetwerk of trade secret theft, trademark infringement and false advertising. It is seeking at least $1 Bn in damages and a ban on the import of the allegedly infringing transformers into the US.
Responding to the complaint, Zetwerk said Ayr filed the latest action after withdrawing an earlier claim in California.
"This complaint comes right after Ayr's own claim against the manufacturing platform Zetwerk collapsed. It was withdrawn after it found no traction in a California court," the unicorn said....
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