23rd Aug 2022 15:11
(Alliance News) - Nanoco Group PLC on Tuesday said it filed another lawsuit against Samsung Electronics Co, this time in Germany based, as with its US lawsuit, on patent infringement.
The nanomaterial developer and manufacturer said the litigation was based on a "sister patent" to one of the patents disputed in its US lawsuit against Samsung.
The firm has accused Samsung of infringing its quantum dot patents, technology which is used on Samsung quantum dot LED televisions.
Nanoco had brought 47 claims against Samsung for the wilful infringement of its intellectual property under five patents in the US. In May, all claims were ruled in favour of Nanoco by the US Patent Trial & Appeal Board.
The funder of the US lawsuit has agreed to an expanded budget on similar commercial terms as the existing funding for the German litigation.
Alongside this, Nanoco said on Tuesday it was "actively reviewing" options for similar litigation in other territories.
"Expanding our action at this time reflects our confidence in the case in the US. It is also noteworthy that the standard remedy under German law is for an injunction and removal of infringing products from sale which would effectively stop Samsung from selling infringing products unless a financial settlement was agreed between the parties," commented Chief Executive Brian Tenner.
"The litigation process in Germany also tends to be faster which will also help in our pursuit of fair value for shareholders," Tenner added.
Shares in Nanoco were up 5.4% at 44.07 pence on Tuesday afternoon in London. Samsung shares closed down 1.5% at KRW59,100.00 in Seoul.
By Heather Rydings; [email protected]
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