Nanotech Co. Accuses Merger Partner Of Scuttling Pact

Law360, Houston (November 26, 2012, 8:37 PM EST) -- A Houston nanotechnology company launched a suit in Texas state court Wednesday alleging a nanotube manufacturing unit of South Korea-based Wisepower Co. Ltd. backed out of a merger agreement after securing a lucrative technology licensing deal with Samsung Electronics Co. Ltd.

Continental Carbon Nanotechnologies Inc. claims that Unidym Inc. wants out of the asset purchase agreement the companies inked in 2009, and wants to supply Samsung with nanotubes using facilities and research developed by Continental Carbon in anticipation of the merger.

“Unidym had duped [Continental Carbon]...
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