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Shares in Nanoco surge after no fault settlement with Samsung agreed

A trial had been due to start on Friday, January 6

Nanoco is headquartered in Manchester(Image: Nanoco )

A Manchester-based technology company has reached a settlement with electronics giant Samsung in a long-running legal battle.

Nanoco had been suing the South Korean group in Texas after it alleged that its QLED televisions use the company’s technology without permission.

A trial had been due to start on Friday, January 6, but the two parties have not reached a no fault settlement.

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The companies have agreed to stay the trial in order to allow the detailed terms of a binding agreement to be finalised.

Nanoco said it expects to issue a further update in the next 30 days.

Following the announcement, shares in the Manchester company surged by almost 50% in early trading to their highest point since 2016.

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