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.
