secwatch.observer — SEC 8-K summary
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Issuer:     Phillips 66 (PSX)
CIK:        0001534701
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0001193125-24-238419
Event type: litigation
Sentiment:  negative
Materiality: 0.85
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534701/000119312524238419/0001193125-24-238419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534701/000119312524238419/d854598d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-238419

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