WEST WARWICK, RI, Feb 23, 2010 (MARKETWIRE via COMTEX) -- Astro-Med, Inc., (NASDAQ: ALOT) announced today that it has
collected $1,495,000 in damages from a lawsuit it filed against a
former employee and a competitor business. At issue was the
non-competition agreement which the employee had signed as a
condition of employment with Grass Technologies, an Astro-Med, Inc.
subsidiary.
A jury for the United States District Court for Rhode Island found
that the competitor business, Nihon-Kohden America, encouraged the
former employee to violate his employment agreement by soliciting
business on its behalf while the employee was still bound by the
non-competition provisions of his employment agreement with
Astro-Med, Inc.
Commenting on the victory, Albert W. Ondis, Chairman and CEO of
Astro-Med, Inc., said: "Astro-Med honors all its contracts with
customers, suppliers, and employees to a 'T'. As a business, our word
is our bond. We expect to be judged on the strength of our adherence
to our obligations, and we expect our employees to honor their
contracts to our company with equal dedication. This victory sends a
clear message to our competitors and to the community at large about
how seriously we view contractual obligations."
"I wish to personally express our admiration and gratitude to our
lawyers, Craig Scott of Scott & Bush, Ltd. and Stacey P. Nakasian of
Duffy & Sweeney, Ltd., who ably and aggressively defended Astro-Med,
Inc's rights as an employer," Ondis continued.
About Astro-Med, Inc.
Astro-Med, Inc. is a leading manufacturer of specialty high tech
specialty printing systems, electronic medical instrumentation, and
test and measurement instruments. Astro-Med, Inc. products are sold
under the brand names Astro-Med(R), Grass(R) Technologies and
QuickLabel(R) Systems, and are employed around the world in a wide
range of aerospace, medical, military, industrial, and packaging
applications. Astro-Med, Inc. is a member of the Russell Microcap(R)
Index. Additional information is available by visiting
www.Astro-MedInc.com.
Safe Harbor Statement
This news release contains forward-looking statements, and actual
results may vary from those expressed or implied herein. Factors that
could affect these results include those mentioned in Astro-Med's
FY2009 annual report and its annual and quarterly filings with the
Securities and Exchange Commission.
Contact:
Albert W. Ondis
CEO
Joseph P. O'Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com
SOURCE: Astro-Med, Inc.
http://www.Astro-MedInc.com