XP Power to pay damages to Comet after losing US lawsuit

(Alliance News) - XP Power Ltd on Thursday said that a US lawsuit brought by Comet AG has ended with the jury finding in favour of Comet.

Shares in the Singapore-based maker of power controllers were down 3.1% at 3,491.56 pence on Thursday in London.

Comet is a Wunnewil-Flamatt, Switzerland-based x-ray and radio frequency components maker. Back in September, Comet filed a lawsuit in the US against XP Power, alleging trade secret misappropriation relating to radio frequency match and generator technology.

A jury trial began on Monday last week, and on Wednesday the jury found in favour of Comet, awarding USD40 million in damages against XP Power.

XP Power said it is disappointed by the decision but respects it and will consider the judgement in detail before deciding on the next steps.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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