Long Fight Over Kevlar Trade Secret Theft Resolved for $360M
A South Korean company accused of stealing trade secrets from E.I. du Pont de Nemours and Co. agreed to pay $360 million in restitution and fines on Thursday, settling a long-running dispute over Kevlar brand technology.
April 30, 2015 at 01:29 PM
4 minute read
A South Korean company accused of stealing trade secrets from E.I. du Pont de Nemours and Co. agreed to pay $360 million in restitution and fines on Thursday, settling a long-running dispute over Kevlar brand technology.
Kolon Industries Inc. pleaded guilty in a Virginia federal district court to conspiracy to steal trade secrets and will pay an $85 million criminal fine. The company will also pay $275 million to settle a civil suit by DuPont, which was represented by McGuireWoods and Crowell & Moring.
According to the U.S. Department of Justice, the case is the first where a foreign corporation with no direct presence in the United States was successfully served with a U.S. criminal process over the company's objections based on an international treaty.
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