Business
Litigation Funding Agreement
Litigation Funding Agreement.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 7309S\n Nanoco Group PLC\n 13 July 2020\n \n \n \n \n FOR IMMEDIATE RELEASE 13 July 2020\n \n \n \n Nanoco\n \n \n Group PLC\n \n \n \n \n \n \n (\n \"\n Nanoco\", the \n \"\n Group\n \", or the \n \"\n Company\")\n \n \n \n \n \n Litigation Funding Agreement\n \n \n \n \n Agreement funds patent infringement lawsuit against Samsung\n \n \n \n Nanoco Group plc\n \n \n \n \n (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announces that it has signed a Litigation Funding Agreement ('LFA' or 'Agreement') with a very large U.S. litigation finance specialist with extensive experience in financing technology-based IP patent litigation matters (the 'Funder').\n \n \n \n \n \n On 17 February 2020, the Group announced that it had filed a patent infringement lawsuit against various Samsung entities in the United States District Court for the Eastern District of Texas. The lawsuit claims infringement of a number of Nanoco's U.S. patents which relate to Nanoco's unique synthesis and resin capabilities for quantum dots. Nanoco retained Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. ('Mintz'), an international IP law firm based in Boston, Massachusetts, USA, to represent it in patent enforcement and litigation. Ward, Smith & Hill, PLLC, an IP law firm based in Longview, Texas, USA, was retained to act as local counsel.\n \n \n \n \n \n Under the LFA, the Funder will fund the costs of the litigation against Samsung. The LFA removes the funding burden for the suit from Nanoco and its shareholders. In return, the Funder can expect to receive a multiple of their invested capital in the event of a settlement or judgement in favour of Nanoco. Patent infringement cases can take 2 years or more to get to trial and cost many millions of dollars to prosecute.\n \n \n \n \n \n The Board is confident in the strength of Nanoco's IP portfolio and the suit against Samsung. Damages models indicate that the Group will retain the majority of any financial award or settlement and the Group's relative and absolute share of any award will increase with the size of the overall award.\n \n \n \n \n \n Dr Michael Edelman, Nanoco's CEO, commented:\n \n \n &nbs...