Settlement Resolves ASI's Claims Against Former Employee

SALT LAKE CITY, UTAH / ACCESS Newswire / May 6, 2025 / Asphalt Systems Inc. ("ASI") is pleased to announce that it has reached a settlement resolving all litigation matters against Mr. Robert Young. As previously disclosed, on February 17, 2022, ASI filed a lawsuit against Mr. Young in Federal District Court alleging that Mr. Young violated his non-disclosure agreement with ASI and misappropriated ASI's trade secrets regarding ASI's gilsonite-containing products and related formulations, applications, methods of manufacture and methodologies. ASI and Mr. Young have reached a settlement that includes a permanent injunction against Mr. Young and an amicable resolution. Neither ASI nor Mr. Young intend to comment further on non-public terms or conditions of the settlement.

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Contact Information

Jeffrey Wertkin
Managing Director, Contract Compliance
jwertkin@asphaltsystemsinc.com

SOURCE: Asphalt Systems Inc