One of the ugliest intellectual property battles on the Eastern District of Pennsylvania’s docket has now settled for $38 million and an agreement between plaintiff Purolite Co. and defendant Thermax Inc. — competing manufacturers of water purification products — that they will now jointly own the trade secrets alleged to have been stolen.

In the suit, Purolite, based in Bala Cynwyd, Pa., claimed that Thermax, based in Pune, India, had hatched a scheme to steal and use Purolite’s trade secrets related to the development, production and sale of ion exchange resins.

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