Autostore shares drop sharply after patent proposal – E24

British Ocado reported that Autostore had partially withdrawn its claims in British law and claimed a “significant win”. – All processes continue as before and we have strong confidence to win, replied Autostore.

AVAILABLE ROBOTS: Here are several Autostore robots walking around the warehouse.

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Autostore shares fell six percent on Wednesday after prices fell close to 14 percent on Tuesday.

The sharp drop came after opponents in Autostore’s patent dispute, British Ocado, sent out a press release stating that the former had withdrawn part of its claims.

In its report, Ocado wrote that claims relating to two of the three patent families have been made in British law. Furthermore, Ocado wrote that this meant a “significant win” for the company.

Financial Science mention the case first.

Autostore director Mats Hovland Vikse responded to the proposal from Ocado:

– We have focused ongoing legal proceedings in the UK on three specific patents, at the same time as we are in the process of adding two more patents to our case.

– The case is unrelated to the International Trade Commission proceedings in the US and strengthens the patent case against Ocado. “All processes continue as before and we have strong confidence to win,” he wrote in an email to E24.

Defendant for patent infringement

In a message from Ocado, a spokesperson said the company has always believed the claims to be unfounded, calling it a “waste of time and money by Autostore”.

The spokesperson also said that the company had taken note of the recommendations that came from chief administrative judge Charles Bullock at the US International Trade Commission (ITC) in December.

The Chief Justice then recommended to the Commission, which will consider the case in full, that Ocado could continue to import Ocado Smart Platform products into the US.

Auto shop requirements

The background is that Autostore has sued Ocado for patent infringement.

The lawsuit has been followed by counterclaims from Ocado and several lawsuits in a comprehensive legal battle in several countries.

Lawsuits against Ocado were filed in the United States and the United Kingdom in October 2020.

His claim is that the court stopped the production, import, use and sale of technology Ocado and partner Tharsus Group believe Autostore infringed on company patents.

Autostore also requires financial compensation from Ocado.

Ocado is an online technology company and grocery supplier listed on the London FTSE 100 Index. The company has agreements with grocery store and retail chain Marks & Spencer.

The Autostore system is based on a robot that picks up goods. It is used by, among others, retail chains Asda in the UK and Best Buy in the US, as well as Lufthansa in Germany.

Shaun Dennis

"Certified introvert. Devoted internet fanatic. Subtly charming troublemaker. Thinker."

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