Antitrust & Trade Reg.
Aug. 4, 2025
Judge awards $195M in punitive damages against Phillips 66 in trade secrets case
The dispute arose after Phillips 66 allegedly used proprietary information obtained during acquisition talks to launch its own renewable fuels venture, prompting a five-week trial that concluded with the jury finding the misconduct "willful and malicious." While Propel sought $1.2 billion in punitive damages, Judge Michael Markman ruled the request "would go too far."
An Alameda County judge ordered Phillips 66 Company to pay $195 million in exemplary damages in addition to a $604.9 million jury verdict that found the company willfully misappropriated trade secrets from Propel Fuels, Inc., a renewable energy company.
Kobre & Kim LLP, Propel's counsel, said Friday that the $833 million judgment is "already one of the five largest trade secret judgments in U.S. history." The firm will file a motion for attorneys' fees and ...
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