Market Overview

Rogers Corporation and Diversified Silicone Products Corporation File Complaint to Stop ElastaPro's Misappropriation of Trade Secrets and Unfair Competition

Share:

Rogers Corporation (NYSE:ROG) and wholly-owned subsidiary Diversified Silicone Products Corporation ("DSP") (together "Rogers") announced today that they have filed a Complaint in the U.S. District Court for the Central District of California against ElastaPro Silicone Sheeting LLC ("ElastaPro") of Santa Fe Springs, California. The Complaint asserts that ElastaPro has unlawfully obtained and leveraged Rogers' trade secrets—including technical formulations and manufacturing knowhow—to fast-track its market entry and compete unfairly with Rogers.

"Rogers invests in developing world-class materials for our customers, and we must protect our intellectual property for our company, our channel partners and ultimately our customers," said Colin Gouveia, Senior Vice President and General Manager of Rogers' Elastomeric Material Solutions Division. "We have a deep commitment to healthy fair competition and respect for intellectual property rights and therefore cannot allow ElastaPro to continue trading on Rogers' credibility and investments."

Rogers has asked the Court to hold ElastaPro liable for Violation of Defend Trade Secrets Act, Violation of California Uniform Trade Secrets Act, Intentional Interference with Prospective Economic Advantage, Conversion, Unfair Competition, and Unjust Enrichment. Rogers seeks monetary damages and an injunction to stop ElastaPro's misappropriation of its trade secrets. Out of concern for downstream customers, however, Rogers has not asked the Court to immediately enjoin ElastaPro from performing any existing contractual obligations.

About Rogers Corporation

Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect, and connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable the company's growth drivers-- advanced connectivity and advanced mobility applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide.

About Diversified Silicone Products Corporation

Diversified Silicone Products Corporation is a custom quality stock direct-to-customer silicone product development and manufacturing business headquartered in Arizona and operating in Carol Stream, Illinois. The specialized materials and products manufactured by Diversified Silicone Products Corporation serve a wide range of applications across many market segments, including general industrial, aerospace, automotive and life sciences.

Safe Harbor Statement

This release contains forward-looking statements concerning expectations with respect to litigation filed by Rogers and the possible outcomes if successful. All forward-looking statements are based upon information available to Rogers on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of the company's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include for example the outcome of ongoing and future litigation and changes in applicable laws and regulations. Rogers Corporation assumes no responsibility to update any forward-looking statements contained herein except as required by law.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com