Russo PLLC defeated H.I.G.’s and Lionbridge’s motion to dismiss TransPerfect’s lawsuit seeking $300 million in damages for misappropriation and use of trade secrets, fraud, breach of contract, unjust enrichment and unfair competition. Allowing 8 of 10 claims to proceed to discovery against both defendants, Justice Denise Cote of the United States District Court for the Southern District of New York ruled that the complaint adequately detailed items qualifying as trade secrets and the measures that TransPerfect had taken to secure the information. At the core of the case is the allegation that H.I.G. was bidding to buy TransPerfect with falsely high bids to be permitted to remain in the auction with the intent to gain access to trade secrets for its portfolio company Lionbridge. Lionbridge then allegedly used those trade secrets to unfairly compete. Judge Cote specifically took note of the fact that Lionbridge was a not a party to the confidentiality agreements signed by H.I.G. to participate in the auction but was given access to the documents H.I.G. downloaded from the data room. To see the decision, click here.