$25 Million Settlement Ends Conn. Company's Trade Secrets Dispute
A Waterbury company that makes specialty chemicals will collect $25 million settlement in a complex case involving allegedly stolen trade secrets and phony stock bids, its second huge litigation-related award this year.
March 11, 2015 at 12:07 PM
6 minute read
A Waterbury company that makes specialty chemicals will collect $25 million settlement in a complex case involving allegedly stolen trade secrets and phony stock bids, its second huge litigation-related award this year.
MacDermid Inc. had sued Cookson Group PLC, of England in 2006, claiming the defendant hired a former employee who had a noncompete agreement and then used information provided by that employee in order to make a phony bid for MacDermid stock. The plaintiffs alleged that Cookson Group, now known as Vesuvius PLC, had no intention of honoring the bid and claimed that it was made only in an effort to drive up MacDermid's debt.
MacDermid officials said there is a confidentiality agreement that precluded them from discussing the settlement. They would only confirm the $25 million figure.
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