Autostore drops after losing patent row against Ocado in UK high court

AutoStore Holdings

31/03/2023 08:34

** Shares in Autostore  AUTO.OL  fall more than 9% after the
Norwegian robotics company on Thursday lost a London high court
patent feud against British online supermarket and technology
group Ocado  OCDO.L 
    ** Autostore, which originally asserted six patents against
Ocado in October 2020, said the decision has no impact on its
business or operations
    ** "We expect the decision to impact sentiment and put the
stock under pressure, but we see limited impact on AUTO's
commercial success, guidance or long term opportunity from this
decision," says Jefferies
    ** The brokerage adds Autostore is likely to see a small
cash outflow to pay Ocado's legal fees
    ** The Autostore shares are set for their worst day since
Jan. 25

 (Reporting by Agnieszka Gosciak-Rabalska)