Beacon Roofing, SRS Distribution Reach Settlement in Florida Trade Secrets Case

Litigation is still pending against two former employees of Beacon and SRS.

Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA, has reached a settlement agreement with SRS Distribution Inc., McKinney, TX, in a 2014 case revolving around stolen trade secrets. The original case was filed against SRS and two of its former employees in Miami-Dade County, Florida Circuit Court.

Terms of the confidential agreement were not disclosed, other than that it only applies to the company and not the two employees named as defendants.

In the original complaint, Beacon alleges that Robert Ricci and Mirta Valdes "acted as double-agents" and used their positions at Beacon to steal confidential information and interfere with customers while working with SRS to establish a new branch in Miami.

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