A Santa Clara medical technology company claims in a newly filed lawsuit that its joint-venture partner in China looted its coffers and stole its trade secrets for use in a new company.
But a bureaucratic problem arose, the lawsuit claims. Although Lumenous owned a majority stake in Jiangyin Peier, a “registration defect” arose to complicate the ownership picture just as Jiangyin Peier was about to go public in the stock market. “If Lumenous was removed from ownership altogether, she stood to gain tremendously,” the lawsuit alleged.
Jiangyin Zhongpei Technology and Shen could not be reached for comment. It was unclear whether they had legal representation for the case, filed Friday in U.S. District Court in San Jose. Shen and her team rebelled, the lawsuit claimed, with managers deeming the resolution invalid and Shen claiming the registration error meant she owned Jiangyin Peier, the lawsuit alleged.
The day before the MedTec China Expo in Suzhou in June last year, Shen and her team and Dickson and his crew both sought to set up a Jiangyin Peier booth, and Shen sent 20 local employees to block her rivals, the lawsuit alleged. “Police arrived, and by intimidating the Expo management, the Shen Enterprise’s team managed to have Dickson kicked out of the exposition,” the lawsuit claimed.
Source: News Formal (newsformal.com)