YORBA LINDA, Calif., Sept. 3 /PRNewswire/ -- Nobel Biocare announced today it has reached a favorable settlement of a lawsuit brought against Keystone Dental, Inc., a dental implant company funded by the multi-billion dollar private equity firm Warburg Pincus, in the Superior Court of Connecticut. The settlement terms provide for Keystone Dental to pay $2 million to Nobel Biocare and that Keystone Dental not hire or solicit any current Nobel Biocare employee through February 1, 2009. Keystone Dental is also required to arrange for the collection and destruction of Nobel Biocare confidential and proprietary information in its or its employees' possession and represent that its employees will not use or disclose any marketing or sales materials licensed by and obtained from Nobel Biocare.
"Nobel Biocare stands for fair competition, but where competition crosses the line into illegality we will use all legal means to protect our proprietary information and trade secrets," stated Kevin Mosher, Vice President and General Manager of Nobel Biocare's North American business.
Nobel Biocare filed its lawsuit in late 2007 claiming that Keystone Dental systematically targeted and hired Nobel Biocare's sales and marketing employees who represented a full cross-section of Nobel Biocare's business and sales force. According to Nobel Biocare's lawsuit, Keystone Dental, in an attempt to gain an unfair competitive advantage, deliberately aided and abetted those employees to breach their noncompetition and confidentiality agreements with Nobel Biocare. The lawsuit further alleged that Keystone Dental and some of its employees failed to return confidential and proprietary information belonging to Nobel Biocare and that they were unlawfully using and disclosing Nobel Biocare's information and trade secrets to develop competitive products for Keystone Dental and to induce customers to terminate their contractual or business relationships with Nobel Biocare.
|SOURCE Nobel Biocare|
Copyright©2008 PR Newswire.
All rights reserved