---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-238419"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2024-10-17T23:59:59+00:00"
generated_at: "2026-05-30T13:18:02.767160+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Jury awards Propel Fuels $604.9M in trade-secret lawsuit against Phillips 66 subsidiary

## Summary
- Jury returned $604.9M compensatory damages verdict against Phillips 66 Company for misappropriation of trade secrets in renewable fuels business.
- Court has not entered judgment; several post-trial motions pending before the Superior Court of Alameda County, California.
- Phillips 66 denies wrongdoing, intends to vigorously defend its position, and is evaluating all legal options.
- Verdict announced on October 16, 2024; Propel Fuels Inc. filed lawsuit alleging trade secret theft.

## SEC filing metadata
- accession: 0001193125-24-238419
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2024-10-17T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000119312524238419/0001193125-24-238419-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000119312524238419/d854598d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-238419
- JSON: https://secwatch.observer/filing/0001193125-24-238419.json
- Plain text: https://secwatch.observer/filing/0001193125-24-238419.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.