(Alliance News) - Nanoco Group PLC on Wednesday said its trial against Samsung Electronics Co in the Eastern District of Texas has been delayed once again.
Shares in the Manchester-based nanomaterial developer and manufacturer were down 2.1% to 40.10 pence each in London on Wednesday morning.
Back in February 2020, Nanoco filed a patent infringement lawsuit against South Korean electronics giant Samsung Electronics Co in the US District Court for the Eastern District of Texas.
The lawsuit claimed infringement of Nanoco's unique synthesis and resin capabilities for quantum dots. Quantum dot technology is used on Samsung QLED televisions.
In May, the US Patent Trial & Appeal Board ruled in favour of the company's patent claims against Samsung. Then, in an August pre-trial conference, Nanoco said that it was in a "strong position" ahead of the trial.
The trial against Samsung was initially scheduled to start on September 12, and was then moved to October 3.
Nanoco explained: "As is the usual practice, the court had scheduled a number of trials for the same dates given that, historically, the majority of cases settle before trial."
"The court has now advised that another case that was scheduled to go to trial on October 3 will now go forward as scheduled. Nanoco's case will be considered when the Court next sets a scheduling order for subsequent trial dates," the company added.
Nanoco will update the market when it has a revised scheduled trial date.
Chief Executive Brian Tenner said: "We previously explained that this sort of change in court date is one minor downside to the system in Texas that delivers trials and outcomes at a much faster rate than most other jurisdictions in the US."
By Sophie Rose; sophierose@alliancenews.com
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Nanoco (NANO)