Nevro Corp. (NVRO) Accused of Scheming to Steal Trade Secrets
According to the complaint against the company’s officers and directors for breaches of their fiduciary duties from January 8, 2016 through the present, Nevro Corp. (NVRO) is engaged in several patent disputes with Boston Scientific Corp. relating to Nevro’s HF10 therapies and the Senza systems. Boston Scientific contends that Nevro has stolen trade secrets, tortuously interfered with its contracts, and hired former Boston Scientific employees to obtain Boston Scientific’s trade secrets. Then, in May 2018, Nevro reported disappointing first quarter 2018 financial results, citing an increase in quarterly operating expenses. In July 2018, several analysts downgraded the company’s stock because the patent litigation had become a “key risk.” That same month, a tentative ruling in the patent litigation invalidated five of the patents related to Nevro’s HF10 therapy and Senza systems. Since April, Nevro’s stock has lost over half of its value, closing at only $41.60 per share on November 7, 2018.
Nevro Corp. (NVRO) Shareholders Have Legal Options
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