Bloomberg is reporting that Kolon Industries lost a $919.9 million jury verdict to DuPont Co. over the theft of trade secrets about the manufacture of Kevlar.
Jurors in federal court in Richmond, Virginia, deliberated about 10 hours over two days before finding South Korea-based Kolon and its U.S. unit wrongfully obtained DuPont’s proprietary information about Kevlar by hiring some of the company’s former engineers and marketers.
Kolon has announced its intention to appeal. DuPont is also seeking post-verdict punitive damages of up to $52 million, legal fees and an injunction to prevent Kolon from selling its competing fiber. Kevlar generated $1.4 in sales for DuPont last year.