DuPont awarded total of $920.3m damages in Kevlar case
ERJ staff report (LMH)
London - A US Court has awarded DuPont a total of $920.3 million in damages after ruling that South Korea's Kolon Industries violated trade secrets for a fibre used to make Kevlar bulletproof vests, according to a DuPont statement posted on Bloomberg, 22 Nov.
The statement said that a judge ruled, 22 Nov, that Kolon's actions called for punitive damages of $350 000, which is the maximum amount allowable by law. Coupled with an earlier jury verdict in Sept, overall damages now total $920 250 000.
The amount was confirmed by Kolon Industries in a 23 Nov disclosure on the Korea Stock Exchange.
Kolon was found liable of obtaining information about the making of Kevlar from DuPont employees who were bound by confidentiality regulations.
Reuters has reported that Kolon plans to appeal the court's decision.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
DuPont statement from Bloomberg
Disclosure On Korea Stock Exchange
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive