A U.S. federal jury has awarded DuPont $919.9 million in damages, ruling that a South Korean company stole trade secrets for a fiber used to make Kevlar bulletproof vests. The Richmond, Va., jury ordered Kolon Industries Inc. to pay the damages after finding the textile company willfully and maliciously stole trade secrets and confidential information regarding its Kevlar para-aramid fiber. In addition to body armor, the fiber is also used to make tires and fiber-optic cables.
DuPont will ask U.S. District Judge Robert Payne, who presided over the seven-week trial, to require Kolon to stop selling products based on the trade secrets. The case was filed in February 2009 after Michael Mitchell, a 24-year DuPont veteran, left the company in 2006 to start his own fiber business, according to DuPont’s Complaint. Kolon later began working with Mitchell and extracted proprietary information about Kevlar he had taken from DuPont, the Complaint said.
DuPont sells more than 70% of para-aramid fibers purchased in the United States. The Wilmington, Del.-based company also makes products used in the chemical, agriculture and biotechnology industries. DuPont said it has not tried to estimate how much it lost in sales, and is not projecting whether sales might now rise. DuPont says “the issue was the billions of dollars we invested in developing it, and someone trying to shortcut by stealing our technology.”
Source: Insurance Journal
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.