3D Systems prevails in accounting trial of former employee Ron Barranco
3D Systems announced that it prevailed in the accounting trial for former employee Ron Barranco's violation of his non-competition covenant. The Court ordered disgorgement of amounts previously paid to the employee. On May 7, 2016, a jury in the United States District Court for the District of Hawaii rendered a verdict in favor of 3D Systems on the company's counterclaim and determined that Barranco violated his non-competition covenant with the company. The Court subsequently ordered an accounting with respect to that counterclaim. Following the trial on the accounting, the Court Ordered that Barranco disgorge, and 3D Systems recover from Barranco, an amount of $522,860, representing all but four months of the full amount paid to Barranco as salary during his employment with 3D Systems, as well as a portion of the up front and buyout payments made to Barranco in connection with the purchase of certain web domains. In addition, the Court Ordered Barranco to pay interest to 3D Systems to be calculated beginning as of Barranco's first breach of the non-competition covenant in August 2011. As the prevailing party, 3D Systems will now move for recovery of its fees and costs.