STEMCO has settled its lawsuit against RevHD, in which the company claimed Matt Stovall and Brian Beathard, former STEMCO employees founded RevHD using confidential and proprietary knowledge gained from their previous employment at STEMCO.
The suit will now be dismissed without prejudice.
According to the settlement, RevHD, Stovall and Beathard must immediately cease the production, promotion, sale and distribution of any RevHD products that directly compete with STEMCO products; delete all information from company websites pertaining to RevHD products that directly compete with STEMCO products; send all packaging, collateral and advertising material pertinent to RevHD products that directly compete with STEMCO products back to STEMCO; pay compensation to STEMCO; and notify the industry and RevHD’s customer base of their cessation of business.
Update: On April 11, 2017, STEMCO in the above entitled and numbered cause, filed a Notice of Nonsuit with Prejudice. This Nonsuit with Prejudice relates to all claims by STEMCO. STEMCO filed this Notice of Nonsuit with Prejudice pursuant to Texas Rule of Civil Procedure 162.
