Five of Fitbit’s ex-employees indicted for stealing trade secrets
In Summary : A federal grand jury has returned a criminal indictment against one current and five former Fitbit employees, accusing them...
https://updatesinfosec.blogspot.com/2018/06/five-of-fitbits-ex-employees-indicted.html
In Summary :
A federal grand jury has returned a criminal indictment against one current and five former Fitbit employees, accusing them of taking stolen trade secrets from their former employer, Jawbone, to their new jobs at Fitbit.
Jawbone went out of business as of July 2017 and is currently undergoing liquidation proceedings.
The two fitness gadget companies were previously staunch competitors and had sued one another multiple times.
On its own: Fitbit has its own problems too. The company's stock price has collapsed since its $32.50 per share debut on the New York Stock Exchange roughly three years ago. Today, Fitbit stock now trades around $7.42 per share.
Fitbit has lost over $380 million from 2016 through 2017, wiping out its two earlier profitable years. Its number of devices sold has plummeted from 22.2 million in 2016 to 15.3 million in 2017.
This is not the company's first brush with federal authorities. In February 2017, Jawbone said in a California state court filing that Fitbit was facing a criminal probe into its behavior. [...]
kindly refer the following link as follow up :
https://arstechnica.com/?p=1332213
A federal grand jury has returned a criminal indictment against one current and five former Fitbit employees, accusing them of taking stolen trade secrets from their former employer, Jawbone, to their new jobs at Fitbit.
Jawbone went out of business as of July 2017 and is currently undergoing liquidation proceedings.
The two fitness gadget companies were previously staunch competitors and had sued one another multiple times.
On its own: Fitbit has its own problems too. The company's stock price has collapsed since its $32.50 per share debut on the New York Stock Exchange roughly three years ago. Today, Fitbit stock now trades around $7.42 per share.
Fitbit has lost over $380 million from 2016 through 2017, wiping out its two earlier profitable years. Its number of devices sold has plummeted from 22.2 million in 2016 to 15.3 million in 2017.
This is not the company's first brush with federal authorities. In February 2017, Jawbone said in a California state court filing that Fitbit was facing a criminal probe into its behavior. [...]
kindly refer the following link as follow up :
https://arstechnica.com/?p=1332213
