Nucor settles lawsuit against SeverCorr and John Bell

Nucor Corporation has settled its pending lawsuit against former employee John Bell and SeverCorr. The lawsuit was brought by Nucor in Federal Court in South Carolina to protect Nucor against the theft of its confidential information when Bell left Nucor to join SeverCorr.

Under the terms of the settlement, the Court has entered an order extending the injunction it previously entered in Nucor’s favor on March 14, 2008. The order prohibits Bell, and SeverCorr, from using the services of Bell in the preparation or manufacturing of interstitial free and ultra-low carbon steels. The court-ordered prohibition will remain in place until June 2009.

In addition, the new order prohibits SeverCorr from producing, qualifying, promoting or marketing any ability to produce and sell interstitial free and ultra low carbon steels to prospective or actual customers. The order will remain in place until at least September 2009.