Nanoco reaches no fault settlement in Samsung litigation

6th Jan 2023 08:50

(Sharecast News) - Nanomaterials manufacturer Nanoco Group has agreed to a term sheet for a no fault settlement with tech giant Samsung regarding the current IP infringement litigation between the two.

Nanoco said on Friday that it and Samsung had jointly requested a stay to a trial scheduled to commence on 6 January in order to allow detailed terms of a binding agreement to be finalised.

The London-listed company expects to issue a further update upon completion of a final binding agreement between the pair within the next 30 days.

A pre-trial conference got underway in Texas back in August 2022, with Nanoco accusing Samsung of "willful infringement" of its intellectual property.

As of 0850 GMT, Nanoco shares had surged 61.91% to 68.97p.

Reporting by Iain Gilbert at Sharecst.com