SCIENCE/TECHNOLOGY
Compiled by Jonathan Weber Times staff writer
Suit Settlement: Irvine-based Laser Precision Corp. said Monday that it had reached a tentative settlement in the $30-million lawsuit filed against it by Minnesota Mining and Manufacturing Co. in December.
3M accused Laser Precision of theft of trade secrets in the hiring of former 3M Photodyne employee Peter M. Milstead, and asked that Laser Precision be prohibited from using any information from Milstead and forced to pay $30 million in punitive damages.
The Irvine-based manufacturer of optical test equipment said Monday that the settlement required only that Milstead not join Laser Precision until Aug. 1. He will remain on the 3M payroll until that time. 3M will drop all further claims against Laser Precision.
