Depending on the terms of the contract, yes. The good: They have to be able to prove you worked on it while working for them. The bad: You'd still get saddled

Depending on the terms of the contract, yes. The good: They have to be able to prove you worked on it while working for them. The bad: You'd still get saddled with legal fees if they come after you, even if you win the case and retain the project.