BinDawood announces dismissal of patent infringement lawsuit against subsidiary

11/03/2021 Argaam

Logo of BinDawood Holding Co.

BinDawood Holding Co. announced the dismissal of the patent infringement case against its subsidiary, Danube Company for Foodstuffs & Commodities, by Arab Dalla Co. before the Commercial Court of Jeddah during the first hearing on March 10, 2021.

 

The court dismissed the case in the preparatory hearing as the plaintiff failed to establish its title over the patent, therefore lacking the capacity to pursue litigation, BinDawood said in a bourse statement.

 

The parent company is evaluating filing a countersuit against Arab Dalla Co., seeking compensation for material and moral damages resulting from the unsubstantiated claim.

 

Shareholders will be kept informed of any further developments in this regard, the statement added.

 

In February, BinDawood announced that Arab Dalla Co. filed a lawsuit against one of its subsidiaries, Danube Company for Foodstuffs & Commodities, for patent infringement, seeking a compensation of SAR 124.13 million and legal fees of SAR 300,000, according to data available in Argaam.

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