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Ocado shares slide as Autostore claims it infringed patents

Ocado shares (LON: OCDO) temporarily halted their continued surge after Norwegian firm Autostore claimed they infringed a patent.

The Norwegian company claims that Ocado breached a patent related to its warehouse technology.

With Ocado’s market capitalisation briefly overtaking Tesco – shares in the firm slid on Thursday and Friday after investors were spooked by the claims.

Ocado has officially responded to the claims, noting that it has not received any official court papers from Autostore and appeared to turn the tables somewhat onto a potential infringement of Ocado’s own patents:

“We are not aware of any infringement of any valid Autostore rights and of course we will investigate any claims once we receive further details.

We have multiple patents protecting the use of our systems in grocery and we are investigating whether Autostore has, or intends to infringe those patents. We will always vigorously protect our intellectual property.”

Ocado shares ended the week at 2659p down from around 2800p.

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