15th Jul 2026 10:10
(Alliance News) - XP Power Ltd on Wednesday said a US appeals court reversed a verdict of a trade secret case with Comet Holding AG, sending the matter for retrial.
The US Court of Appeals reversed a 2022 District Court ruling, meaning USD40 million in compensatory and punitive damages, as well as over USD17 million in attorney fees XP Power had been due to pay has been vacated.
XP Power noted and welcomed the Tuesday decision.
"The cash for these awards is currently held outside the group in a bond lodged with the District Court," the Singapore-based maker of power control systems said. "The group will continue to defend its position."
Comet had filed a lawsuit in the US against XP Power, alleging trade secret misappropriation relating to radio frequency match and generator technology.
XP Power shares rose 1.2% to 1,860.00 pence each in London on Wednesday morning.
By Eric Cunha, Alliance News news editor
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