25 January 2012 19:16 [Source: ICIS news]
HOUSTON (ICIS)--NOVA Chemicals said on Wednesday that it is reviewing what steps it will take after it lost an appeal to a $61.7m (€48m) verdict that US-based Dow Chemical won against it in a patent lawsuit.
In its appeal to the US Court of Appeals for the Federal Circuit, NOVA alleged that Dow had lacked the standing to file the lawsuit.
Also, NOVA alleged that Dow's patents were invalid.
The appeals court rejected NOVA's argument.
"We are disappointed with the outcome of the case," said Pace Markowitz, NOVA spokesman.
However, one judge did dissent from the court's decision to uphold the verdict.
As a result, NOVA is reviewing the court's decision to determine what its next steps will be, Markowitz said.
By contrast, Dow said it is pleased with the court's decision.
"This decision confirms Dow’s position from the beginning of this dispute: Dow's patents for the production of ELITE brand enhanced polyethylene resins are valid and enforceable, and NOVA has been infringing on Dow's rights," Dow said in a statement.
Because of pre- and post-trial interest, the award now stands at more than $76m, the company said.
Dow said it is seeking additional money damages and injunctive relief against NOVA.
($1 = €0.77)
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