RPM International hit with $190M verdict in trade secrets lawsuit

RPM International (NYSE:RPM) has disclosed a jury verdict of $190 million against one of its subsidiaries in a lawsuit involving a former supplier.

The trial, held in the U.S. District Court for the District of Oregon, concluded on September 27, 2024.

The subsidiary was found liable for breaching contractual obligations, misappropriating trade secrets, and committing fraud.

Despite the verdict, RPM International maintains that the decision was flawed, citing discrepancies with the facts and applicable law, as well as significant trial errors.

RPM International plans to contest the verdict vigorously through all available post-trial motions and appellate processes.

The company has expressed strong belief in the likelihood of overturning the verdict, estimating potential outcomes of the judgment to range between $0.5 million to $190 million.