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Consumer Law

CVS is Suing a Former Executive Over Potentially Taking Trade Secrets to a Competitor

CVS is suing a former employee in federal court in an attempt to block him from joining a competitor, citing breach of contract and misappropriation of trade secrets.

On February 9, CVS Pharmacy sued Timothy Brown, a “high compensated Chief Medicare Officer” of Aetna, who announced in January he was leaving to take a position with Cigna.

CVS and Aetna had merged in 2018, making CVS at the time the second-largest company by revenue in America. 

In 2020, total revenues increased 32.0% to $256.8 billion

“After participating in Aetna’s annual process of developing its strategy for the 2022 Medicare Advantage plan year, Brown seeks to join Aetna’s direct competitor, Cigna, in a role where he will be directly responsible for the growth of Cigna’s share of the national Medicare Advantage market and expansion of Cigna’s footprint,” according to the lawsuit. 

Read the source article at GoLocalProv

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