Thermax To Pay $38M To Settle Purolite Secrets Case

By Ryan Davis

Law360, New York (February 24, 2010, 1:57 PM ET) -- India-based energy and environmental engineering company Thermax Ltd. has agreed to pay U.S. rival The Purolite Co. $38 million to settle a suit in which Purolite accused Thermax of hiring away four employees and stealing trade secrets related to water treatment processes.

Judge Cynthia Rufe of the U.S. District Court for the Eastern District of Pennsylvania signed off Tuesday on the settlement agreement.

Thermax said in a statement that the settlement provided that Thermax and Purolite will be joint co-owners in perpetuity of the technology at...
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