Asia stocks surge as tech extends rebound, Dec rate cut bets grow
LONDON - Nanoco Group plc (LSE:NANO) has reached a no-fault settlement agreement with LG Electronics Inc. that resolves ongoing litigation between the companies, according to a press release issued Thursday.
Under the terms of the settlement, LG will pay Nanoco a gross amount of $5 million. Nanoco reported that it has incurred litigation costs totaling $0.6 million to date in connection with the case. Additional terms and conditions of the settlement remain confidential.
Nanoco, a developer and manufacturer of cadmium-free quantum dots and other nanomaterials, is headquartered in Runcorn, UK. The company specializes in producing patented cadmium-free quantum dots (CFQD® materials) for use in various electronics industries.
The settlement announcement was made through a regulatory filing that contained inside information as defined under UK Market Abuse Regulation.
Nanoco holds the London Stock Exchange's Green Economy Mark and continues to develop its patent-protected intellectual property portfolio alongside its commercial production facilities.
The company's Chief Financial Officer, Liam Gray, was responsible for arranging the release of the settlement announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.