Nanoco Group PLC (LSE:NANO) shares rose 6% to 9.76p after the company agreed a no-fault settlement with LG Electronics, bringing an end to their legal dispute.
The quantum dot materials specialist said LG will pay $5 million to resolve the litigation.
Nanoco has incurred $0.6 million in legal costs so far, implying the bulk of the settlement will flow through to the business. All other terms remain confidential.
The agreement closes the latest chapter in Nanoco’s long-running efforts to defend its intellectual property, an issue that has been central to the company’s strategy and investor interest in recent years.