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Amazon.com ( AMZN ) is suing logistics and supply chain expert Arthur Valdez, whom Target ( TGT ) recently hired, alleging that Valdez violated the noncompete clause in his contract, according to the Wall Street Journal . Valdez had been an Amazon employee for 16 years and signed a noncompete agreement in 2012 requiring him to wait 18 months before taking a similar position at a rival. The lawsuit, filed Monday in King County Superior Court in Washington, according to the Journal, says that Valdez has already disclosed secrets to Target such as an analysis of Amazon’s holiday operations and its same-day grocery and package business. Valdez’s appointment at Target was announced in February, according to Reuters . Its report says that according to Valdez’s attorney, he isn’t scheduled to start until March 28. Amazon.com stock was up almost 1% in afternoon trading on the stock market today , near 558.50. The stock has an IBD Composite Rating of 66, where 99 is the highest. Shares are up 18% from a recent three-month low of 474. The Journal quoted a Target spokeswoman as saying that the company has taken significant precautions to ensure that proprietary information stays confidential and that Target believes the suit is without merit. Scalper1 News
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