California State Court Rules in Favor of CP Kelco in Trade Secrets Theft Case
Former Employee Found Guilty of Misappropriation of Trade Secrets
ATLANTA, Feb. 08, 2018 (GLOBE NEWSWIRE) -- CP Kelco, a leading global producer of specialty hydrocolloid solutions, announced today that a California state court issued a judgment in its favor in a legal case filed against one of its ex-senior scientists, Dr. Chienkuo "Ronnie" Yuan, Director of Innovation at DSM (China) Ltd. Dr. Yuan was an employee with CP Kelco for 14 years before departing in 2014 to join DSM, a subsidiary of Royal DSM, N.V. and a competitor of CP Kelco in the gellan gum industry.
In July 2015, CP Kelco filed a Complaint against Dr. Yuan in San Diego Superior Court, following several attempts to address CP Kelco's legitimate concerns that the Company's intellectual property may have been used for the benefit of DSM by Dr. Yuan.
On August 24, 2017, a 12-member jury returned a verdict in favor of CP Kelco on all causes of action, and the State court issued a judgment in accordance with the jury verdict. The verdict specifically found that Dr. Yuan had misappropriated CP Kelco's trade secrets and used or disclosed those trade secrets with third parties. Further, the jury found that Dr. Yuan breached his confidentiality agreement and duty of loyalty to CP Kelco. The jury also determined that Dr. Yuan knowingly accessed CP Kelco's computer systems in order to wrongfully obtain CP Kelco property. Finally, the jury found that CP Kelco was entitled to punitive damages for Dr. Yuan's willful and malicious misappropriation of trade secrets.
In its Statement of Decision on Punitive Damages, "the court conclude[d], as the jury evidently did, that [Dr. Yuan] assembled internal CP Kelco documents and emailed them to himself (and then to DropBox) not for the purpose of advising on production issues in the waning days of his time in San Diego, but rather so that he would be able to 'shorten the runway' once he took up his new employment."
"This legal case demonstrates CP Kelco's commitment to taking the appropriate actions to ensure our intellectual property and our employees' work products are safeguarded from improper and unfair use in the marketplace," said Didier Viala, President of CP Kelco. "With our rich heritage of technological and product innovation, our global team continues to raise the bar in providing ingredient solutions that meet the evolving needs of our regional markets and customers."
About CP Kelco
Headquartered in Atlanta, Georgia, USA, and part of J.M. Huber Corporation, CP Kelco is a leading producer of specialty hydrocolloids with offices and facilities across the globe. Featuring an extensive range of hydrocolloid solutions and serving over 100 countries, CP Kelco leverages its capabilities to bring concepts and ideas to real-world products in a broad range of applications. The company's specialty ingredients touch a wide variety of consumer and household products and industrial applications, tailored to meet the needs of regional consumers. Key product lines are Gellan Gum, Pectin, Xanthan Gum, Cellulose Gum, Carrageenan, Diutan Gum and Microparticulated Whey Protein Concentrate, as well as other unique biopolymers. Visit www.cpkelco.com for more information.
About KELCOGEL® Gellan Gum
CP Kelco introduced KELCOGEL Gellan Gum to the industry almost 30 years ago. We have deep experience with this versatile, high-performance ingredient in application segments ranging from food and beverage to personal care and pharmaceuticals. Gellan gum can be used at low levels in a wide variety of products that require gelling, texturizing, stabilizing, suspending, film-forming and structuring.
CONTACT: Michele Cacdac-Jones Office: +1 678 247 7149 Mobile: +1 770 743 0564 firstname.lastname@example.org
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CP Kelco via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Resverlogix Provides Unrestricted Educational Grant for Epigenetic Symposium at International Renal Congress25.5.2018 07:45 | Pressmeddelande
CALGARY, Alberta, May 24, 2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today announced that on Friday, May 25, 2018, at the European Renal Association - European Dialysis and Transplant Association (ERA-EDTA) Congress in Copenhagen, Denmark, the Company is supporting a symposium titled: "Epigenetics in CKD & CVD: A potential breakthrough therapy?" The symposium highlights the role of epigenetics and BET-inhibition in chronic kidney disease and cardiovascular disease, especially in patients with diabetes mellitus, and the significant unmet need that still exists in this patient population. The symposium is co-chaired by Vincent M. Brandenburg, MD - Nephrologist, Aachen, Germany and Kamyar Kalantar-Zadeh, MD - UC Irvine School of Medicine, Irvine, CA, USA, both leading scientists also serving as advisors to Resverlogix's Renal program. The speakers and agenda are as follows: Introduction Vincent M. Brandenburg, MD - University Hospital of the RWTH
Atico Reports Consolidated Financial Results for the First Quarter of 201824.5.2018 22:30 | Pressmeddelande
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, May 24, 2018 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the "Company" or "Atico") (TSX.V:ATY) (OTC:ATCMF) today announced its financial results for the three months ended March 31, 2018, posting a net income of $0.4 million. Fernando E. Ganoza, CEO and Director, commented, "The strong production and all-in sustaining cash cost of $1.85 achieved this quarter is not reflected in the financial results as a large concentrate shipment was delayed to the second quarter, along with the revenue associated with those tonnes. The shipping schedule is expected to stabilize during the second quarter, where we will then benefit from the additional shipped concentrate and recognized revenue. We anticipate strong financial results in the next quarter." Mr. Ganoza continued, "Our emphasis will continue to be on further strengthening our balance sheet, improving production costs and most importantly regional
Elemica Reports Double Digit Network Growth and Announces New Product Innovations in First Quarter 201824.5.2018 18:18 | Pressmeddelande
Helping Process Manufacturers Undergo Digital Transformation Leads to Introduction of New Transformative Solutions WAYNE, Pa., May 24, 2018 (GLOBE NEWSWIRE) -- Elemica, the leading Digital Supply Network for process manufacturing industries, announces the company's first quarter results of 2018 highlighting substantial network growth and new product innovations. The Elemica Digital Supply Network had significant network expansion in the first quarter with traffic growing 10 percent year-over-year in Q1. Shipment traffic grew substantially based on new product expansions of Elemica Trace. "Elemica's growth can be attributed to our clients needing our expertise and technology to undergo a Digital Transformation that connects, automates, anticipates and transforms their enterprise for their business growth initiatives," said John Blyzinskyj, CEO of Elemica. "Our digital supply network enables businesses to grow their top and bottom lines, mitigate risk and improve customer satisfaction ac
Luxembourg Announced as SNOMED International's Newest Member24.5.2018 15:16 | Pressmeddelande
London, United Kingdom, May 24, 2018 (GLOBE NEWSWIRE) -- SNOMED International and Agence eSanté Luxembourg are pleased to announce that Luxembourg has joined the organization as its thirty-second Member. Luxembourg, one of the leading nations in the area of information and communication technology, has set the development of eHealth technologies as a high priority. Agence eSanté, Luxembourg's national agency for the exchange and sharing of medical data, has set an overall mission to facilitate clinical information exchange both within Luxembourg and across other international actors. To work towards this reality, the agency has taken part in discussions about standardization across Europe, a contributing building block achieved with its membership in SNOMED International. With their membership, Agence eSanté has committed their support for the use of structured clinical terminology. When applied to the health sector, interoperability ensures that information systems, and through them h
SEMAFO Signs Underground Mining Services Contract with AUMS24.5.2018 14:00 | Pressmeddelande
MONTREAL, May 24, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) reports that it has signed a mining services contract with African Underground Mining Services ("AUMS") to provide turnkey mining services for Siou underground. AUMS is a well-known and reputable mining contractor with underground experience in Burkina Faso and across Africa. Under the mining services contract, AUMS will be responsible for supplying the mining fleet and a skilled labour force for Siou underground in addition to ensuring development, production and auxiliary services. SEMAFO will provide technical services including geology and engineering as well as leveraging the existing surface infrastructure at Mana. The mining services contract has a term of 70 months. The economic terms of the mining services contract are consistent with the economics presented in the Mana pre-feasibility study filed March 29, 2018 on SEDAR. Preparatory work has already commenced on Siou underground with full project deplo
Merus Announces First Patient Dosed in Phase 1 Clinical Trial of MCLA-158 in Patients with Solid Tumors24.5.2018 13:00 | Pressmeddelande
- IND Accepted in April by the U.S. FDA for MCLA-158 - UTRECHT, The Netherlands, May 24, 2018 (GLOBE NEWSWIRE) -- Merus N.V. (Nasdaq:MRUS), a clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics (Biclonics®), today announced that the first patient has been dosed in a Phase 1, first-in human clinical trial of MCLA-158 in patients with solid tumors with an initial focus on metastatic colorectal cancer. The trial will be conducted in Europe, where several Clinical Trial Applications (CTAs) have been approved to date. The Company also announced the submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for MCLA-158, which was accepted by the FDA in April 2018. With this acceptance, Merus plans to open additional sites for this trial in the United States. MCLA-158 is designed to bind to cancer stem cells expressing leucine-rich repeat-containing G protein-coupled receptor 5 (Lgr5) and epidermal grow
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum