DuPont settles lawsuits with Invista involving claims that Invista broke an agreement to provide the Delaware chemical major with chemical products to produce special nylon polymers and engineering resins
September 13, 2010
– Dupont Co. said Monday it settled three pending lawsuits with privately held Invista, which bought much of DuPont's textiles and interiors business several years ago.
The companies didn't release terms of the settlement.
The lawsuits stem from Invista's separation from DuPont in 2004, when Invista was purchased by the subsidiaries of the privately held company Koch Industries. DuPont had claimed that Invista broke an agreement to provide DuPont with chemical products it needs to produce special nylon polymers and engineering resins.
In January, a federal judge in Wilmington, Del., scheduled a "nonbinding mock trial" for the dispute. According to court records, the trial included a jury, witnesses, top-ranking executives, and a court transcriber. But it won't include members of the public, because the judge said the courtroom will be sealed and the proceedings kept confidential.
A lawyer for Invista described the trial as a way to reach a settlement without going through a more adversarial proceeding.
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