|
|
 | | | |
- close
- close
- close
- close
WBMD » Topics » Porex Corporation v. Kleanthis Dean Haldopoulos, Benjamin T. Hirokawa and Micropore Plastics, Inc.This excerpt taken from the WBMD 8-K filed Nov 23, 2009. Porex
Corporation v. Kleanthis Dean Haldopoulos, Benjamin T.
Hirokawa and Micropore Plastics, Inc.
On September 24, 2005, the Company’s subsidiary, Porex
Corporation, filed a complaint in the Superior Court of Fulton
County against two former employees of Porex, Dean Haldopoulos
and Benjamin Hirokawa, and their corporation, Micropore
Plastics, Inc. (“Micropore”), alleging
misappropriation of Porex’s trade secrets and breaches of
Haldopoulos’ and Hirokawa’s employment agreements, and
seeking monetary and injunctive relief. The lawsuit was
subsequently transferred to the Superior Court of DeKalb County,
Georgia. On October 24, 2005, the defendants filed an
Answer and Counterclaims against Porex. In the Answer and
Counterclaims, the defendants allege that Porex breached
non-disclosure and standstill agreements in connection with a
proposed transaction between Porex and Micropore and engaged in
fraud. The defendants also seek punitive damages and expenses of
litigation. In connection with the Company’s recent sale of
Porex (described above in Note 2), the Company agreed to
indemnify Porex for any liability that may be incurred by Porex
with respect to defendants’ counterclaim against Porex and
for certain legal fees of Porex in connection with the case.
|
| |||||||
