News in brief

Jury hits Wal-Mart with $12.4M verdict

A Fayetteville jury has determined Wal-Mart Stores Inc. must pay $12.4 million to California-based Cuker Interactive LLC for misappropriating trade secrets, unjust enrichment and breach of contract.

The jury verdict, which came Friday in U.S. District Court for the Western Division of Arkansas, concluded a 10-day trial before Judge Timothy Brooks'. The verdict included $12 million in damages related to Cuker Interactive's four claims against Wal-Mart for misappropriating trade secrets.

Wal-Mart and Cuker Interactive signed an agreement in January 2014 for consulting services that would make the website for Asda, the retailer's United Kingdom-based grocery chain's business, mobile responsive. But the relationship soured and each side accused the other of several claims, according to court documents.

Wal-Mart spokesman Randy Hargrove said the company respectfully disagrees with the verdict and is considering all options, including an appeal.

"In our view, the finding and the damages awarded are not supported by the facts," Hargrove said. "We also believe the verdict wrongfully holds Wal-Mart responsible for materials which Cuker transferred or licensed to us under contract."

-- Robbie Neiswanger

Bates hired for post of CFO at USA Truck

Jason Bates has been hired as chief financial officer at USA Truck.

Bates replaces James Reed, who took over as the company's chief executive officer in January. Previously, Bates was vice president of finance, revenue services and investor relations officer at Swift Transportation Co., where he has worked since 2003.

"Among my immediate objectives as CEO has been assembling leaders who embrace the intensity and accountability necessary to improve the Company's financial performance and enhance shareholder value," Reed said in a release.

USA Truck also hired Cheryl Stone to head its human resources department, replacing Kandice Harshaw, a 25-year company veteran. Stone joins Van Buren-based USA Truck after serving as chief administrative officer for technology services at Tri Marine International, a tuna supply chain company.

-- Emma N. Hurt

Arkansas Index falls 1.23, ends at 342.03

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slipped 1.23 to 342.03 Friday.

Nine stocks advanced and nine declined.

P.A.M. Transportation rose 4.9 percent.

Home BancShares fell 2.6 percent in active trading.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 04/22/2017

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