Kolon pleads guilty to conspiracy, agrees to settle litigation in Kevlar trade secrets case

A South Korean company accused of stealing trade secrets involving Kevlar technology has pleaded guilty to federal conspiracy charges and settled separate civil litigation filed by the DuPont Co.

In resolving the legal battles, Kolon Industries Inc. was sentenced to pay $85 million in criminal fines and agreed to pay $275 million in restitution to DuPont.

Federal authorities obtained an indictment in 2012 charging Kolon and five of its employees with engaging in a seven-year conspiracy — including hiring current and former DuPont employees as “consultants” — to steal trade secrets involving high-strength synthetic fibers used in products such as Kevlar body armor.

Last year, a federal appeals court overturned a jury decision awarding $920 million in damages to the DuPont Co. in the civil lawsuit.

View more information: https://www.foxbusiness.com/markets/kolon-pleads-guilty-to-conspiracy-agrees-to-settle-litigation-in-kevlar-trade-secrets-case

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