Bell Microsensors Suit Settled for $12.5 Million
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The former owner and two former employees of a defunct Newbury Park company, Bell Microsensors, have settled their fraud and breach of contract lawsuit against Daniel Industries of Houston for $12.5 million. The settlement, reached on Dec. 2, followed a verdict by a federal jury in Los Angeles against Daniel Industries on Nov. 25.
Bell, which designed industrial measurement devices, agreed to be acquired by Daniel Industries in 1986, but was shut down by Daniel Industries in 1988. The suit, filed by Robert Bell, Larry Devor and William Moeur, accused Daniel of “stealing” Bell’s technology and breaking the terms of its agreement with Bell.
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