US court overturns $920m award to DuPont
New York - AFP
A US federal appeals court Thursday overturned a ruling thatordered South Korea's Kolon Industries to pay $920 million to rival US chemicalgiant DuPont for alleged theft of trade secrets.In September 2011, a jury found Kolon had stolen DuPont's trade secrets on themanufacture of Kevlar aramid fiber and ordered the company to pay damages andinterest.But the Court of Appeals in Richmond, Virginia, found that the district court had"abused its discretion, to Kolon's prejudice" and granted Kolon a new trial,according to a court document seen by AFP.Kevlar is used in a number of products, including tires, fiber optic cables andspacesuits.
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