Veeva Systems: U.S. Court Rejects Medidata Lawsuit For Lack Of Evidence

(RTTNews) - Veeva Systems (VEEV), a cloud software company for the life sciences industry, Monday said that a United States court has dismissed the trade secret misappropriation lawsuit filed by Medidata, a Dassault Systèmes company, against veeva for lack of evidence.

The United States District Court for the Southern District of New York also has blocked Medidata's moves to limit competition and employee rights, to limit the free flow of talent with unfounded trade secret claims.

The company noted that federal district judge Jed Rakoff ended the proceedings and rejected the suit midway through the jury trial. The court found that Medidata was unable to substantiate its claims against Veeva.

Medidata filed the trade secret suit in 2017 against Veeva and five former Medidata employees in an attempt to block Veeva from innovating in the clinical data management market and intimidate Medidata employees to prevent them from joining Veeva.

Veeva noted that the case caused confusion to mutual customers, harmed employees on both sides, and cost the two sides combined an estimated $40 million.