KANSAS CITY, Mo., July 15, 2014 /PRNewswire/ -- The Eighth Circuit Court of Appeals today unanimously affirmed the $31.3 million judgment awarded to Hallmark in a case against Monitor Clipper Partners, a Boston-based private equity firm.
The case was originally tried to a jury in November, 2012. The jury found that Monitor Clipper misappropriated Hallmark's trade secrets from Monitor Consulting Group, which had done consulting work with Hallmark in the past. The jury awarded Hallmark $31.3 million which included $10 million in punitive damages.
Judge Ortrie D. Smith denied Monitor Clipper's motion to overturn the verdict and Monitor Clipper appealed Judge Smith's decision to the Eighth Circuit.
"We are pleased with the Court of Appeal's ruling and their decision to uphold the jury's verdict and Judge Smith's decision," said Brian Gardner – Hallmark executive vice president – general counsel.
"Protecting proprietary business information and intellectual property is of critical importance to our company," said Gardner. "We will aggressively defend those rights and are pleased to have prevailed in this effort."
About Hallmark Cards, Inc.
Privately-held Hallmark Cards is headquartered in Kansas City, MO. Visit http://corporate.hallmark.com for more details.
SOURCE Hallmark Cards, Inc.