Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, has announced an update to its litigation against Samsung for the willful infringement of the Group’s IP.
The Company has filed a law suit against Samsung in Germany based on a sister patent to one of the patents in the US litigation. Germany is one of the largest European markets for the sale of high-end televisions. This highly focused approach will allow us to pursue the litigation more quickly and at a lower cost. The Funder for the US litigation has agreed an expanded budget on similar commercial terms as the existing funding.
The Group is actively reviewing options for similar litigation in other territories where its unique and world leading technology has been patented and where Samsung is believed to have significant sales.
Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:
“We have been clear from the beginning that Nanoco’s IP portfolio is global in nature and will be defended as such. We continue to benefit from the support of our Funder and of the lead legal team at Mintz. Their stance reflects their confidence in the strength of our case globally.
“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. The litigation process in Germany also tends to be faster which will also help in our pursuit of fair value for shareholders.”
