Astro-Med,
Inc. Wins $1.5 Million Employee Non-Compete Agreement Suit
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 Grass Technologies
Grass Technologies, an Astro-Med, Inc. subsidiary, is a world leader
in neurophysiological monitoring instruments and software designed to
detect, amplify, and display the electrical activity of the brain. Primary
applications of Grass products include Sleep Monitoring and Analysis,
Long-Term Monitoring (LTM), EEG Monitoring, and Neurophysiological Research
Studies. Customers include sleep centers and clinics, hospitals, universities,
and pharmaceutical companies. More information is available at www.GrassTechnologies.com.
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. More information is available at 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
