Massachusetts-based Insulet Corp. secured a staggering $452 million verdict Tuesday after a federal jury found South Korean company EOFlow Co. Ltd. and its CEO had misappropriated trade secrets tied to Insulet’s wearable insulin patch pump technology. The jury’s decision marks one of the largest trade secrets awards in recent years, sending a clear message about the consequences of intellectual property theft.
The jury concluded EOFlow and its leadership willfully and maliciously misused three of Insulet’s four trade secrets. The award included $170 million in compensatory damages and a substantial $282 million in punitive damages, highlighting the egregious nature of the misconduct.
A Legacy of Innovation Meets Betrayal
Insulet, a company rooted in innovation, was founded by a father seeking better insulin delivery options for his son. The company launched its flagship OmniPod wearable insulin pump in the early 2000s, fundamentally improving the lives of diabetes patients. Robert Carroll of Goodwin Procter LLP, Insulet’s lead attorney, described representing the company as an honor, lauding its transformative contributions to healthcare.
