Dupont Co. said Monday it was intensifying efforts to collect a $919 million damage award after a judge rebuffed efforts by South Korea’s Kolon Industries Inc. to seek a retrial or reduce the penalty in a case involving the theft of trade secrets.
Last September, a jury in Richmond, Va., found in favor of DuPont after it sued Kolon Industries over the theft of confidential information related to Kevlar body armor.
District Judge Robert Payne declined Kolon’s attempt to secure a retrial in a ruling released late Friday, saying the damages weren’t “excessive.”
“And now that the trial court has denied Kolon’s motions, we are commencing additional proceedings to enforce and collect on the judgment,” said DuPont General Counsel Tom Sager in a statement, adding that DuPont also expects to recover legal fees and is seeking an injunction to prevent Kolon from selling a competing fiber used to make body armor.
Kolon shares ended Monday up 1% at 76,100 South Korean won. The company wasn’t immediately available for comment.
DuPont shares were recently trading at 50.44, down 28, or 0.5%