LB Group Seeks 1.31 Billion Yuan in Damages for Trade Secret Dispute

MT Newswires Live10-15

LB Group's (SHE:002601) subsidiary, Yunnan Metallurgical Xinli Titanium Industry, is seeking 1.31 billion yuan in damages over alleged infringement of trade secrets, according to a Shenzhen bourse filing on Wednesday.

Yunnan Xinli filed a lawsuit against Hebei Yanshan Iron & Steel Group and three individual investors for allegedly stealing its trade secrets related to the construction and production of a large-scale chlorination-process titanium dioxide production line.

Liu Jianliang, Jiang Shuan, and Zhao Zequan allegedly used Yunnan Xinli's confidential technical data for the production line to provide services for the construction of similar projects, the Chinese chemical producer said.

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