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Prices & Quotes - UK Markets - Ocado Group (OCDO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 2,197.00p
Change Today:
-10.00p
Market Cap:
16,437m
Sector:
Food & Drug Retailers

AutoStore suing Ocado over its warehousing technology

By Josh White

Date: Thursday 01 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Automated technology company AutoStore has filed patent infringement lawsuits in the United States and the United Kingdom against the grocery retailer and warehousing technology provider Ocado, it announced on Thursday.
The Norwegian firm said it was seeking court orders barring Ocado and its partner, Tharsus Group, from manufacturing, importing, using and selling technology that infringes its patents, as well as monetary damages.

It claimed Ocado had signed agreements with retailers including American grocery giant Kroger, and British retailers Marks & Spencer and Morrisons, which apparently rely on the continued infringement of AutoStore's intellectual property.

AutoStore said it has filed complaints with the US International Trade Commission, the US District Court for the Eastern District of Virginia, and the High Court of England and Wales.

"Since 1996, AutoStore has developed and pioneered technology that has revolutionized retail storage and order fulfillment, and is driving the growth of online retail," said AutoStore chief executive officer and president Karl Johan Lier.

"Our ownership of the technology at the heart of Ocado's warehousing system is clear.

"We will not tolerate Ocado's continued infringement of our intellectual property rights in its effort to boost its growth and attempt to transform itself into a global technology company."

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Ocado Group Market Data

Currency UK Pounds
Price 2,197.00p
Change Today -10.00p
52 Week High 2,895.00p
52 Week Low 1,064.00p
Volume 358,213
Shares Issued 748.15m
Market Cap 16,437m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 6
Sell 1
Strong Sell 6
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ocado Group Dividends

No dividends found

Trades for 01-Dec-2020

Time Volume / Share Price
15:11 53 @ 2,197.00p
15:11 174 @ 2,197.00p
15:11 100 @ 2,197.00p
15:11 97 @ 2,197.00p
15:11 136 @ 2,198.00p

Ocado Group Key Personnel

CEO Tim Steiner
COO Mark Richardson