Miles Homes makes announcment.CHESHIRE, Conn.--(BUSINESS WIRE)--Sept. 16, 1996--Miles Homes Inc. (NASDAQ/NMS: MIHO) has obtained federal court orders enjoining en·join tr.v. en·joined, en·join·ing, en·joins 1. To direct or impose with authority and emphasis. 2. To prohibit or forbid. See Synonyms at forbid. three of its former executives from using Miles Homes' trade secrets to begin a competing business. Paul Vogel, David Gaither and Ray Parker are all named as defendants in a lawsuit brought by Miles Homes. Miles Homes alleges that the three defendants contemplated a home-building venture that will compete unfairly with Miles Homes through the use of misappropriated mis·ap·pro·pri·ate tr.v. mis·ap·pro·pri·at·ed, mis·ap·pro·pri·at·ing, mis·ap·pro·pri·ates 1. a. To appropriate wrongly: misappropriating the theories of social science. proprietary information and trade secrets, including a sophisticated internal, company-owned and developed computer software model. Miles Homes also claims that Vogel, Gaither and Parker intentionally disrupted the company's ongoing business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets by falsely creating a grim view of the company's financial situation among employees and sales representatives to convince them to leave the company and join the defendants' new venture, and that they encouraged members of Mile's sales force to curtail cur·tail tr.v. cur·tailed, cur·tail·ing, cur·tails To cut short or reduce. See Synonyms at shorten. [Middle English curtailen, to restrict sales activity while still employed at Miles Homes. Miles Homes provides customized building plans, pre-cut and packaged building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . , construction support and financing to customers who act as there own general contractors A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. and assist in the building of there own homes. "The three men named in the complaint were trusted executives who had access to proprietary information and to all senior levels of management," said Peter R. DeGeorge, chairman and chief executive officer of Miles. "Miles Homes is continuing to vigorously prosecute To follow through; to commence and continue an action or judicial proceeding to its ultimate conclusion. To proceed against a defendant by charging that person with a crime and bringing him or her to trial. this lawsuit, and the company will seek all court orders necessary to protect its valuable trade secrets, customers, employees and shareholders." All of the parties in the lawsuit agreed to the entry of the court's orders. All of the defendants deny that they have misappropriated Mile's trade secrets. CONTACT: Miles Homes, Inc. Johnathan K. Dodge, Esq. 212/371-9777 |
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