Corning Incorporated (NYSE: GLW) and Picvue Electronics, Ltd. announced today that they have amicably resolved the lawsuit between the parties relating to alleged trade secret misappropriation and copyright infringement. The employees of Picvue responsible for such action are no longer with the company.
The investigation being led by the U.S. Attorney’s Office has resulted in an arrest in Kentucky. The suspect is believed to have participated in the misappropriation of materials containing proprietary information about Corning’s process for manufacturing the company’s glass substrates used in making active matrix liquid crystal displays (LCDs).
As part of the settlement, Picvue has agreed to respect Corning’s proprietary rights in fusion draw technology for manufacturing flat panel display glass and fairly compensate Corning for any past wrongdoing. The terms of the settlement are confidential. In addition, Picvue is cooperating with the U.S. Attorney for the Western District of New York in an ongoing investigation of any criminal misconduct.
“Corning is pleased to have this dispute with Picvue resolved in a manner by which those responsible for the criminal actions will be brought to justice,” said James P. Clappin, president, Corning Display Technologies. “Corning considers its intellectual property rights critical and it will always move accordingly to protect our shareholders' investment. We will not let others misappropriate our intellectual property.”
Through its Display Technologies business, Corning manufactures two glass substrate compositions, Corning 1737 and EAGLE2000™ glass, which is currently the worldwide industry standard for active matrix LCD. Over the last few years, Corning has been investing to expand capacity to keep pace with the growing LCD industry.
The company has continued to expand its Tainan, Taiwan manufacturing facility that it opened in 2001 and is currently constructing its second facility on the island in Taichung, which is expected to begin production later this year.
About Corning Incorporated
Corning Incorporated (www.corning.com) is a diversified technology company that concentrates its efforts on high-impact growth opportunities. Corning combines its expertise in specialty glass, ceramic materials, polymers and the manipulation of the properties of light, with strong process and manufacturing capabilities to develop, engineer and commercialize significant innovative products for the telecommunications, flat panel display, environmental, semiconductor, and life sciences industries.
About Picvue Electronics, Ltd.
Picvue is a high tech company that specializes in research, development, design, manufacturing and after sales services for components used in display devices such as TV, laptop and mobile phone. Picvue had been, until year 2000, the major Taiwanese CRT glass supplier since the 70s. It is the pioneer of Taiwan LCD industry and a main supplier to the global LCD market. Its flat sheet display glass research was started in the mid 90s and is now ready to supply to the TFT-LCD market.