IPO-Bound Zetwerk Sued By Ayr Energy In US, Faces $1 Bn Damages Claim

Months after Zetwerk accused Ayr Energy and its founder of using stolen confidential information to build a rival business, the US-based transformer startup has hit back with legal claims of its own. Ayr Energy has accused Zetwerk of trade secret theft, trademark infringement and false advertising. It is seeking at least $1 Bn in damages and a ban on the import of the allegedly infringing transformers into the US.