AutoStore Holdings Ltd. - Administrative Law Judge Issues Initial Determination in AutoStore's International Trade Commission Patent Case Against Ocado

14 Dec 2021 02:38 CET

Company Name

AUTOSTORE HOLDINGS LTD.

ISIN

BMG0670A1099

Marked

Oslo Børs

Ticker

AUTO

Nedre Vats, 14 December 2021. On 13 December 2021, the Chief Administrative Law
Judge, Charles Bullock, of the International Trade Commission ("ITC") in
Washington, D.C. issued an initial determination in connection with the action
AutoStore Holdings Ltd. ("AutoStore: or the "Company", OSE ticker code "AUTO")
brought in October 2020 against Ocado Group plc and certain of its affiliates
("Ocado"). This initial determination recommends to the full Commission that
Ocado may continue to import the Ocado Smart Platform ("OSP") into the U.S,
maintaining the status quo. Today's decision has no impact on AutoStore's
ability to sell its product in the U.S. or globally.

The initial determination found that certain of AutoStore's patents were
invalid based on a narrow legal issue. AutoStore intends to challenge the non
-final decision before the full Commission, which will review the findings and
is expected to issue a final determination in April 2022.

"This initial determination, even if confirmed by the full Commission, would not
change our ability to conduct our business in the U.S. or globally," said Karl
Johan Lier, Chief Executive Officer of AutoStore. "The issues on which the
Administrative Law Judge reached his preliminary finding on validity contradict
the determination of the U.S. Patent and Trademark Office, which refused to
invalidate the patents at issue in this case. We will raise these issues with
the full Commission, and we will continue to defend our intellectual property
not only in the ITC but also in all other relevant venues."

The initial determination found that Ocado's OSP infringes on three of
AutoStore's patents. The Judge also rejected Ocado's assertion that the patents
are unenforceable due to inequitable conduct or equitable estoppel.

AutoStore believes strongly in its litigation positions and will continue to
pursue them. AutoStore also continues to believe that each of the claims and
counterclaims raised by Ocado is without merit and intends to vigorously defend
against those claims. The outcome of legal proceedings is subject to uncertainty
and can be extremely difficult to predict, and AutoStore offers no assurances in
this regard.

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by the contact person, at the date
and time set out above.

CONTACTS

* Bent M. Skisaker, Chief Financial Officer, +47 46 82 16
93, bent.skisaker@autostoresystem.com

For further queries, please contact:

AutoStore Investor Relations:

Bent M. Skisaker, Chief Financial Officer

+47 46 82 16 93

bent.skisaker@autostoresystem.com

AutoStore Norwegian media:

Geir Bjørlo

+47 91 54 00 00

geir.bjorlo@corpcom.no

AutoStore International media:

Emma Schultz (USA)

+1 646 644 8095

AutoStore@brunswickgroup.com

Tim Danaher (UK)

+44 7515 916 216

AutoStore@brunswickgroup.com

About AutoStore

AutoStore is an innovative robotic and software technology company, and a
pioneer of cubic storage automation. The group operates in the rapidly growing
warehouse automation industry, and in the even faster growing cube storage
segment. AutoStore develops warehouse solutions for the future and helps its
customers to enable space saving and increase performance, while reducing labor
and energy costs. For more information about AutoStore,
see www.autostoresystem.com.

Forward looking statements

This announcement includes forward-looking statements which include statements
regarding the Company's business strategy, financial condition, profitability,
results of operations and market data, as well as other statements that are not
historical facts. Words such as "believe," "anticipate," "plan," "expect,"
"target," "estimate," "project," "predict," "forecast," "guideline," "should,"
"aim," "continue," "could," "guidance," "may," "potential," "will," as well as
similar expressions and the negative of such expressions are intended to
identify forward-looking statements, but are not the exclusive means of
identifying these statements. By their nature, forward-looking statements are
subject to numerous factors, risks and uncertainties that could cause actual
outcomes and results to be materially different from those projected. Readers
are cautioned not to place undue reliance on these forward-looking statements.
Except for any ongoing obligation to disclose material information as required
by the applicable law, the Company does not have any intention or obligation to
publicly update or revise any forward-looking statements after it distributes
this announcement, whether to reflect any future events or circumstances or
otherwise.


Kilde

AutoStore Holdings Ltd.

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