Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets

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Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets
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A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.

NEW YORK, Aug 22 - Sigma Lithium , which produces metal used in electric vehicle batteries, has sued a former co-chief executive officer, accusing him of stealing trade secrets to undermine the company's effort to sell itself.

Gardner's law firm did not immediately respond to requests for comment on Tuesday. It is unclear whether Valim has a lawyer, and she could not immediately be reached. The lawsuit said Cabral-Gardner and Gardner lead a fund, A10 Investimentos, with a 44% stake in the company, with Cabral-Gardner owning 76% of the fund and Gardner owning 24%.

Sigma said that soon after leaving the company in May, Valim downloaded and shared with Gardner about 80,000 confidential documents from a data room to which Bank of America , which has been working on talks with potential buyers of Sigma, coordinated access.

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