Cap-XX Ltd on Tuesday said the trial date for its patent infringement action against Maxwell Technologies Inc has been delayed by almost six months to December 11 from July 24, due to the death of an expert witness for Maxwell.
Sydney-based Cap-XX designs and manufactures supercapacitors and energy management systems, with plants in Australia, Malaysia and China. Maxwell Technologies is a wholly owned subsidiary of Austin, Texas-based electric car maker Tesla Inc.
Cap-XX shares were down 13% to 1.23 pence in London on Tuesday following the news. Tesla closed up 3.2% to $290.38 in New York on Monday and were down 0.2% in pre-market trade on Tuesday.
Cap-XX said it ‘remains optimistic of the company’s prospects in this matter’.
The company also said it has been advised that Tesla recently lodged a complaint against Cap-XX in a US District Court, alleging infringement of two patents by Cap-XX.
‘CAP-XX intends to strenuously defend this action and further announcements will be made as appropriate.’ it said.
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