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(Sharecast News) - Supercapacitor design and energy management specialist CAP-XX updated the market on Monday, following the Delaware District Court's ruling on 29 January favouring Maxwell Technologies in a patent infringement lawsuit initiated by CAP-XX.
The AIM-traded firm said that in light of the outcome, it had opted not to pursue further action regarding the appeal filed with the Federal Circuit Court of Appeals.
As a result, the appeal would be dismissed.
The company said the decision stemmed from a comprehensive case review conducted by CAP-XX in collaboration with its legal advisors.
Factors taken into account during the evaluation included the projected legal expenses associated with pursuing the appeal and the likelihood of its success.
At 1153 GMT, shares in CAP-XX were down 8.74% at 0.62p.
Reporting by Josh White for Sharecast.com.
