Law Street Media

Anthem Sues Former Executive Over Trade Secrets

An image of Anthem Blue Cross Blue Shield's logo outside an office building

Indianapolis: Circa March 2019: Anthem World Headquarters. Anthem is a Trusted Health Insurance Plan Provider

On Monday a case was filed in the Southern District of Indiana by Anthem Inc. against Chad Piper. The case is regarding theft of trade secrets and breach of restricted stock unit agreements.

Chad Piper was the President of Anthem’s Healthy Blue Nebraska Medicaid Program, per the health insurance giant’s complaint. In that role, the defendant purportedly had access to the program’s strategic, fiscal, regulatory, and operational information.

The defendant also received compensation in the form of stock grants as part of his incentive compensation plan. These stock grants were subject to restricted stock unit agreements which restricted the defendant’s ability to compete directly with Anthem, to use Anthem’s confidential information, to solicit Anthem’s customers, and to solicit Anthem’s employees, the complaint said.

After resigning from Anthem, the defendant allegedly joined another company that was bidding for an Iowa Medicaid program, whose bid is directly competing with a bid from the plaintiff for the same services. The plaintiff also notes that several confidential documents were forwarded from the defendants Anthem access to his personal access.

The plaintiff is suing for breach of contract for the restricted stock unit agreements and theft of trade secrets. Plaintiff is represented by Frost Brown Todd, LLC and Seyfath Shaw LLP.

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