Veeva Systems Inc. on Friday persuaded a judge to throw out a lawsuit by pharmaceutical software rival Medidata Solutions Inc alleging it stole trade secrets worth hundreds of millions of dollars, representatives for the companies said.
Medidata sued Veeva in Manhattan federal court in 2017 for allegedly obtaining secrets about its products, customers and business strategy by poaching several of its employees. The lawsuit said Pleasanton, California-based Veeva used the information to develop competing software for managing clinical drug trials.
Medidata had asked for as much as $450 million in damages during a trial that began Monday, according to Veeva's law firm Keker, Van Nest & Peters. U.S. District Judge Jed Rakoff granted Veeva's request to end the trial before the case could reach a jury.
Veeva's lead attorney Khari Tillery said in a statement that the company was "grateful to the Court for recognizing that no one at Veeva stole anything, and that no Medidata trade secrets were ever used to create Veeva's incredibly successful cloud software."
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