OKLAHOMA CITY – Oklahoma’s Attorney General has filed a lawsuit that will help Oklahoma companies.
According to reports, Attorney General Scott Pruitt filed a lawsuit against a Chinese oil equipment supplier for selling equipment in Oklahoma at artificially low prices, gaining an unfair competitive advantage over lawfully licensed Oklahoma companies.
The complaint claims that Chinese manufacturer Neway Valve Company stole manufacturing process related software, the used pirated technology to sell its competing equipment in Oklahoma at a lower price.
Oklahoma reportedly lost an estimated $3 billion in revenue between 2002 and 2012, due to companies like Neway Valve Company, using pirated software.
Neway Valve Company is accused of violating Oklahoma’s Antitrust Reform Act, which prohibits monopolies in the state of Oklahoma.
According to Neway Valve Company president David Standefer he was unaware there was a lawsuit being filed against his company.
“I first heard about Oklahoma Attorney General Scott Pruitt’s lawsuit against Neway Valve Company when a reporter reached out for comment yesterday afternoon—so I sincerely thank the media for drawing it to my attention.”
Neway Valve Company has stated that they are looking into this complaint and wants to get to the bottom of this situation.