SAN DIEGO, June 11, 2018 (GLOBE NEWSWIRE) -- On June 30, 2017, Neology, Inc. successfully completed acquisition of the Tolling and Automated License/Number Plate Recognition business of 3M’s Transportation Safety Division. Prior to the acquisition, 3M had alleged theft of its trade secrets and confidential and proprietary information by ex-employee Stephen C. Lockhart. Lockhart was exposed to 3M’s trade secrets and sensitive information concerning 3M’s traffic RFID products and services. 3M had invested substantial time and money to develop the trade secrets and used them to maintain its competitive edge within the industry. Lockhart left 3M and joined Star Systems, which is based in Hong Kong. 3M sued Lockhart and Star Systems in a Texas state court. The case was styled 3M Company and 3M Innovative Properties Company v. Stephen C. Lockhart and Star Systems International Limited, Cause No. 401-01813-2014. Lockhart admitted to stealing 3M’s trade secrets. On March 13, 2017, the lawsuit concluded with a Consent Judgment in favor of 3M. The Consent Judgment includes an injunction prohibiting Lockhart and Star Systems from using 3M’s (now Neology) trade secrets. Examples of specific material that Lockhart and Star Systems are prohibited from using include (i) 3M RFID tag reader schematics, (ii) the password protocol(s) for any 3M RFID tag reader, and (iii) any database or digital information collection regarding past customer problems with 3M RFID technology and any information regarding the solutions to any of those problems. Please contact Neology for a copy of the Consent Judgment.
About Neology:
Neology is a leading provider of integrated end-to-end solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. The company is a pioneer and leader in the development of passive RFID technology owning some of the earliest and most significant intellectual property (IP) in the industry. For more information, visit www.neology.net
Media Contact:
Mark McFarlin
Vice President International Sales
Phone: 858-391-0260 x126
mmcfarlin@neology-rfid.com
www.neology-rfid.com