January 8, 2020 / 10:09 AM / 6 months ago

Varta warns of patent infringements by Chinese firms, shares plunge

FRANKFURT, Jan 8 (Reuters) - German battery maker Varta said on Wednesday that it has warned electronic goods traders after finding products with batteries from Chinese manufacturers which infringe on its patents.

The company's shares plunged 20% after the issue was flagged by a broker note earlier.

"If they do not react immediately after the deadline, we will seek preliminary injunctions," a Varta spokeswoman said.

Some stock traders also linked Varta's share price collapse to lithium producer Livent cutting its earnings outlook on Tuesday due to a downturn in prices of the battery metal.

Reporting by Arno Schuetze and Hakan Ersen; editing by Thomas Seythal

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