Fitbit (FIT) Announces Favorable ITC Determination; Company Did Not Misappropriate Jawbone Trade Secrets

August 23, 2016 5:54 PM EDT

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Fitbit, Inc. (NYSE: FIT) today announced that the International Trade Commission (“ITC” or “the Commission”) issued an initial determination in favor of Fitbit in ITC Investigation No. 337-TA-963 brought by Jawbone. The Administrative Law Judge who presided over the merits hearing concluded that Fitbit did not misappropriate any Jawbone trade secrets. This determination followed earlier decisions that eliminated from this investigation all six of the Jawbone patents asserted against Fitbit.

“We are pleased with the ITC’s initial determination rejecting Jawbone’s trade secret claims,” said James Park, CEO and Co-Founder of Fitbit. “We greatly appreciate the ALJ’s time and diligent work on this case. From the outset of this litigation, we have maintained that Jawbone’s allegations were utterly without merit and nothing more than a desperate attempt by Jawbone to disrupt Fitbit’s momentum to compensate for their own lack of success in the market. Our customers can be assured that we remain fully committed to creating innovative products that consumers love, and that we are excited about the pipeline of new products coming out this year.”

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