Maxwell Technologies down, losses court battle
Shares of Maxwell Technologies Inc. (Nasdaq: MXWL) are down on news before the opening bell that the maker of energy storage and power delivery systems has suffered a legal setback.
A U.S. federal district court in San Diego issued an order denying Maxwell’s request for a preliminary injunction against South Korean ultracapacitor technology maker NessCap Co., Ltd. In October 2006, Maxwell filed a patent infringement lawsuit, accusing Nesscap of patent infringement.
After two days of hearings, the court ruled that Maxwell has not shown that the accused devices fall within the limitations of claim, Nesscap announced today. Maxwell has not issued an official response.
Separately, NessCap is appealing a previous preliminary injunction issued in April and said it hopes a federal court in Washington, D.C. will hear the case before the end of 2007.
Ultracapacitors are energy storage devices similar to rechargeable batteries.
At 3:53 p.m. ET shares have lost $0.35, or 3%, to $11.84.
