Largan Precision Co (大立光), the nation’s biggest supplier of camera lenses, has settled a lengthy litigation battle with smaller rival Ability Opto-Electronics Technology Co (先進光電), according to statements that the companies filed with the Taiwanese Stock Exchange yesterday.
“We have signed a confidential settlement agreement,” Largan said in its statement. “Per the agreement, we will withdraw all litigation against Ability.”
Details of the settlement are not to be disclosed to protect the privacy of individuals involved, the Taichung-based firm added.
Photo: CNA
In 2012 and 2013, Largan sued Ability for allegedly stealing trade secrets.
In 2017, the Intellectual Property Court ruled in Largan’s favor, ordering Ability to pay NT$1.52 billion (US$53.76 million at the current exchange rate) in compensation.
The court’s ruling was upheld on Jan. 28.
Largan hotly pursued the litigation, even requesting the court for the provisional seizure of Ability property on Tuesday last week.
In 2013, Chinese-language magazine Business reported that Largan saw defending its “more than 500” pieces of intellectual property as key to maintaining its position as No. 1 in Taiwan’s opto-electronics market.
Four engineers left Largan for positions at Ability and started filing patents related to production automation that Largan alleged infringed on its intellectual property, leading to the lawsuit.
Over the years, Largan has also sued Samsung Electronics Co, Newmax Technology Co (新鉅科) and HP Inc for patent infringement. Largan settled out of court with all parties, except for HP.
News of the settlement caused the price of Ability shares to jump 10 percent, the maximum daily increase, to NT$42.15.
The price of Largan shares initially dipped NT$65 before recovering and ending the trading day at NT$3,360, slightly lower than the opening price of NT$3,375.
Separately, Largan yesterday posted consolidated revenue of NT$3.21 billion for last month, down 12.44 percent from NT$3.67 billion in February last year.
That represented a monthly decline of 30 percent from NT$4.61 billion in January, as the Lunar New Year holiday reduced the number of working days.
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