Investors call for cull at Nanoco over tech firm’s battle with Samsung
Investors are calling for Nanoco to be culled over the battle between the nanotechnology company’s David and Goliath and Samsung
Angry shareholders have demanded that Nanoco bosses resign in a bitter row over the company’s David and Goliath battle with Samsung.
A group of investors led by Tariq Hamoodi, who owns a 4.23 percent stake in the British quantum company, has called on CEO Brian Tenner and chief finance boss Liam Gray to step down following a settlement with Samsung last month.
Nanoco filed a patent infringement lawsuit in February 2020, alleging that the South Korean tech giant used its “quantum dot” technology in its TVs without permission.
Lawsuit: Nanoco alleges South Korean tech giant Samsung used its ‘quantum dot’ technology in its TVs without permission
The pair were set to go to court in Texas, but agreed to settle. Samsung last month agreed to pay £123 million to Manchester-based Nanoco – well below industry estimates of around £215 million.
Shareholders said: “Nanoco had settled on terms significantly less favorable than previous statements had led shareholders to believe.”
Nanoco said it “emphatically dismisses the shareholder group’s speculative concerns.”