Mid-Afternoon Market Update: S&P 500 Turns Negative; Vaccinex Shares Spike Higher
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AbbVie, Evolus, and Medytox Announce Resolution of Intellectual Property Litigation
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AbbVie, Evolus, and Medytox Announce Resolution of Intellectual Property Litigation
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By Kim Yoo-chul
U.S. President Joe Biden is expected to review a final ruling by the United States International Trade Commission (USITC) in favor of LG Energy Solution (LGES) in a multi-billion dollar battle with Korean rival SK Innovation (SKI) over the alleged misappropriation of intellectual property on electric vehicle (EV) batteries.
The USITC imposed the full 10-year ban requested by LGES on SKI. But the commission also granted SKI a grace period to supply batteries to Ford for four years and to Volkswagen for two years. That ruling will take effect if the U.S. president formally accepts the commission s ruling.