Magic Leap loses lawsuit against Nreal, whom it accused of stealing trade secrets
 |
|---|
| images via magicleap & nreal |
The lawsuit against Nreal, whom they accused of unfair competition and stealing trade secrets in a petition submitted to the court around this time last year, was dismissed by the court. The court granted a 30-day period to provide details regarding the ‘stolen secrets’ and the matters subject to unfair competition.
Nreal, which produces augmented reality glasses and was founded by former Magic Leap employee Xu Chi , had created a huge sensation with the products it launched and their prices.
Magic Leap, referring to an interview conducted by MRTV with Nreal founder and CEO Chi Xu, claimed that he admitted to taking confidential information from Magic Leap and using it to create the Nreal Light AR glasses. In response, Nreal filed a countersuit in December and denied the allegations.
Sharing the Bloomberg news from his Twitter account and tagging Magic Leap founder Rony Abovitz , Xu Chi ’s statement along the lines of “let’s drop the fight and look forward” is noteworthy.