Kolon must pay DuPont $920M for stealing Kevlar formula
by Joseph N. DiStefano, Posted: September 14, 2011
US Judge Robert E. Payne, Richmond, Va., has ordered South Korea-based Kolon Industries Inc. to pay $919.9 million after a jury verdict found the company liable for "concerted and persistent actions to wrongfully obtain DuPont’s trade secrets and confidential information about DuPont’s Kevlar" bulletproof fiber, DuPont said in a statement today. UPDATE: Kolon says it will appeal.
DuPont sued Kolon in 2009, charging that Kolon had hired an ex-DuPont employee, Michael Mitchell, who "transferred various DuPont trade secrets" to Kolon. Mitchell pleaded guilty to stealing trade secrets and obstruction of justice and was sentenced to a federal prison term of 18 months last year.
Kolon executives committed other acts of corporate espionage, according to DuPont's complaint, and later destroyed documents that could have been used as evidence, Payne ruled.
DuPont called the award one of the largest in US history in an intellectual-property case.