The company said that on October 16, 2024, a jury in the Superior Court of the State of California, Alameda County, returned a verdict in a lawsuit brought by Propel Fuels Inc. against Phillips 66 Company, a wholly owned subsidiary, awarding compensatory damages of $604.9 million.

8-KOther EventsFiled Oct 17, 2024Period of report Oct 16, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company said that on October 16, 2024, a jury in the Superior Court of the State of California, Alameda County, returned a verdict in a lawsuit brought by Propel Fuels Inc. against Phillips 66 Company, a wholly owned subsidiary, awarding compensatory damages of $604.9 million.
The company said the court has not yet entered a judgment in the case and that several post-trial motions are pending before the court.
The company said that in the lawsuit, Propel Fuels Inc. alleged that Phillips 66 Company misappropriated trade secrets related to its renewable fuels business.
The company said Phillips 66 Company denied any wrongdoing, will vigorously defend its position and is evaluating all of its legal options.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

October 16, 2024 Jury Verdict

The company said that on October 16, 2024, a jury in the Superior Court of the State of California, Alameda County, returned a verdict in a lawsuit brought by Propel Fuels Inc. against Phillips 66 Company, a wholly owned subsidiary, awarding compensatory damages of $604.9 million.

Source · Based on the filing body and exhibits

No Court Judgment Yet; Post-Trial Motions Pending

The company said the court has not yet entered a judgment in the case and that several post-trial motions are pending before the court.

Source · Based on the filing body and exhibits

Propel Fuels Inc. Trade Secret Misappropriation Claim

The company said that in the lawsuit, Propel Fuels Inc. alleged that Phillips 66 Company misappropriated trade secrets related to its renewable fuels business.

Source · Based on the filing body and exhibits

Company Denial and Response

The company said Phillips 66 Company denied any wrongdoing, will vigorously defend its position and is evaluating all of its legal options.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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