Below is an excerpt from the article originally published on Law360.com:
A California federal jury on Wednesday cleared OculusVR’s founder and a Facebook subsidiary on allegations that the billionaire lied about his progress on virtual reality headset designs that Total Recall Technologies contracted him to create and then sold them to Facebook for $2 billion.
The trade secrets trial against Oculus VR’s billionaire founder Palmer Luckey wrapped Wednesday when the jury unanimously held that Total Recall Technologies had failed to prove that Luckey breached a contractual obligation to it or that Luckey committed constructive fraud.
The jury unanimously held that TRT also failed to prove that Luckey had entered into a confidential relationship with it.
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