Kolon may appeal DuPont's $919.9m verdict in Kevlar lawsuit

15 September 2011 18:17  [Source: ICIS news]

Kolon may appeal Kevlar verdictHOUSTON (ICIS)--Kolon Industries may appeal against a $919.9m (€671.5m) verdict that DuPont won in a US lawsuit in which it accused the South-Korea-based company of stealing trade secrets about its Kevlar aramid fibre, Kolon said on Thursday.

A jury found that Kolon was liable for misappropriation of trade secrets and that its actions were wilful and malicious.

Kolon said it has legal and factual grounds for an appeal, and it will pursue all legal means to address the verdict.

The $919.9m award is one of the largest of its kind, according to DuPont.

In 2007, DuPont became concerned about Kolon’s activities and notified the Federal Bureau of Investigation (FBI), the Department of Justice and the Department of Commerce.  

An FBI investigation revealed that in August 2008, three Kolon managers had flown to Richmond, the site of DuPont’s Kevlar technology and business headquarters.

According to the investigation, the managers flew to Richmond to obtain confidential information about DuPont process technology.

Later, the federal government charged former DuPont employee Michael Mitchell with stealing trade secrets and obstructing justice.

Mitchell pleaded guilty and was sentenced to 18 months in a US prison.

($1 = €0.73)

For more on DuPont visit ICIS company intelligence

By: Al Greenwood
+1 713 525 2645

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