The U.S. trade watchdog cleared South Korean battery company SK Innovation Co. of violating rival LG Energy Solution's patents in a preliminary ruling, sending SK shares surging 15 percent on Thursday. The initial determination by the U.S. International Trade Commission marks the first time LG Energy Solution has received a negative determination from the trade panel for one of its several legal disputes with SK in the United States.
"The ITC's decision is regrettable, but we respect its decision," the wholly-owned battery division of LG Chem said in a statement.
Read Article