Ex-Valspar Chemist Admits To Taking Paint Secrets

By Erin Coe

Law360, New York (September 02, 2010, 1:49 PM ET) -- A former chemist has pled guilty to stealing trade secrets worth as much as $20 million from Chicago-based paint maker Valspar Corp. before embarking on a new job with competitor Nippon Paint in China.

David Yen Lee of Jersey City, N.J., entered a plea agreement with prosecutors in the U.S. District Court for the Northern District of Illinois admitting that he used his access to Valspar’s secure internal computer network to steal about 160 secret formulas for paints and coatings, according to a statement Wednesday by...
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