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XP Power Ltd on Wednesday said a US appeals court reversed a verdict of a trade secret case with Comet Holding AG, sending the matter for retrial. The US Court of Appeals reversed a 2022 District Court ruling, meaning $40 million in compensatory and punitive damages, as well as over $17 million in attorney fees XP Power had been due to pay has been vacated. XP Power noted and welcomed the Tuesday decision. ‘The cash for these awards is currently held outside the group in a bond lodged with the District Court,’ the Singapore-based maker of power control systems said. ‘The group will continue to defend its position.’ Comet had filed a lawsuit in the US against XP Power, alleging trade secret misappropriation relating to radio frequency match and generator technology. XP Power shares rose 1.2% to 1,860.00 pence each in London on Wednesday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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