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Title Trading Services. USA, Inc. v. Kundu

Summarized by: 

Date Filed: 05-02-2014
Case #: 14-cv-225-RJC-DCK
United States District Court for the Western District of North Carolina
Full Text Opinion: http://dockets.justia.com/docket/north-Carolina/ncwdce/3:2014cv00225/74964
LexisNxis Link: 2014 U.S. Dist. LEXIS 61338
Westlaw Link: 2014 WL 1765128

Trade Secrets: Preliminary Injunction: When evaluating whether to grant a temporary restraining order the court considers four elements.

Opinion (Conrad): The Plaintiff, Title Trading Services (Title) sought motions for a Temporary Restraining Order and Preliminary Injunction enjoining the defendant, Kundu, from actions involving the use of trade secrets. Title is a financial and principal trading firm that creates and implements trading technology involving software development and hardware configurations that utilized trading strategies. Kundu was employed by Title from July 2009 through March 2014 when he was terminated after an internal investigation for passing trade secrets, violating his Employment Agreement.  The Court examined four factors articulated in Winter: (1) whether the moving party is likely to succeed on the merits; (2) whether they are likely to suffer irreparable harm in absence of preliminary relief; (3) whether the balance of equities tips in their favor; and (4) whether an injunction is in the public interest. In this case Title showed irreparable harm and a likelihood of success on the merits, demonstrating that Kundu violated North Carolina’s Trade Secret Protections Act. They also showed that the protection of trade secrets tipped the scale of equities in Title’s favor and that Congressional action criminalizing economic espionage demonstrated a public interest in protecting trade secrets. The Court GRANTED Title’s Motion for a Temporary Restraining Order.