Prysmian Secures Major Legal Victory Over Sterlite Technologies
A U.S. District Court jury in Columbia, South Carolina, awarded Prysmian Group $96.5 million in damages after finding Sterlite Technologies Inc., the U.S. division of Indiaโs Sterlite Technologies Ltd. (STL), liable for trade secret violations. The verdict, delivered on August 9, 2024, followed a three-week trial. The decision confirmed Prysmianโs claims involving a former company executive.
Although the jury ruled for Prysmian, both Sterlite and former executive Stephen Szymanski denied any wrongdoing.
Allegations Against Former Executive Stephen Szymanski
Prysmian filed its lawsuit in June 2021, accusing Szymanski of taking confidential business data after leaving the company for Sterlite in August 2020. Before joining Sterlite, he led Prysmianโs North American optical fiber cable business.
The jury also ordered Szymanski to pay $200,000 in personal damages, showing his role in the case. At trial, Prysmian proved that Sterlite obtained โthousands and thousandsโ of pages of company data.
These pages included customer lists, new product details, and plant expansion plans. Investigators later found the files with Szymanski and Sterlite executives in Pune, India.
To explore Prysmianโs fiber technology and product portfolio, visit Prysmian North America or the Prysmian Group global website.
Prysmian Reaffirms Ethical Leadership and Fair Competition
Andrea Pirondini, CEO of Prysmian North America, said the case represented โa matter of right versus wrong.โ He welcomed the juryโs ruling, saying Prysmian will continue to protect its trade secrets and serve customers with integrity.
Likewise, Patrick Jacobi, Senior Vice President of Prysmian North America Telecom, said the verdict strengthens Prysmianโs reputation. He noted that the companyโs focus on quality and innovation continues to set it apart in the telecom industry. In his words, the decision reinforces Prysmian as a trusted cable partner for communication networks across the U.S. and beyond.
Sterlite Technologiesโ Response and U.S. Expansion
Sterlite Technologies Ltd. (STL) now operates in over 150 countries. In September 2023, the company expanded its U.S. presence with the Palmetto Plant in Lugoff, South Carolina. This facility produces high-fiber-count, small-diameter optical cables and serves as STLโs North American headquarters.
After the verdict, Ankit Agarwal, Managing Director of STL, said the company remains committed to serving its American customers. However, he also stated that STL disagrees with the juryโs findings. Therefore, the company plans to appeal and pursue all available post-trial remedies.โ
