logo-loader
viewWi-LAN Inc

Wi-Lan gains as judge validates patent claims versus Apple

computer_code_350_53458860c61b3.jpg

Wi-LAN (TSE:WIN), which owns patents for technology used in mobile phones, spiked to the highest in nearly two months after saying a U.S. federal judge determined that an October jury verdict improperly invalidated some of the Canadian company's claims in a dispute with Apple Inc. (NASDAQ:AAPL).

The shares rose 4.1 percent to C$3.33 at 1:11 p.m. in Toronto after reaching C$3.48, the highest intraday price since Feb. 18.

The Ottawa, Ontario–based company said in a statement today that the court was unable to find substantial supporting evidence for the jury’s finding and as such the invalidity verdict can’t stand. 

However, the judge denied other aspects of Wi-LAN’s challenges to the verdict. 

"We believed all along that the claims in our 802 patent were valid, and this decision just reaffirms that belief," Chief Executive Officer Jim Skippen said in the statement.

"We also believe that the judge's ruling will be of significant benefit to WiLan with respect to any future appeals we may make to the U.S. Federal courts concerning our ongoing intellectual property disputes with Apple."

In September 2011, Wi-LAN sued Apple, Alcatel-Lucent SA (NYSE:ALU), Dell Inc. (NASDAQ:DELL), Hewlett-Packard Co. (NYSE:HPQ), HTC Corp. (TPE:2498), Novatel Wireless Inc. (NASDAQ:NVTL) and Sierra Wireless Inc. (TSE:SW). Wi-LAN claimed patent infringement on certain technologies.

A jury ruled in favor of Apple in October. Wi-LAN previously settled with the other six defendants in the case.

The shares, which have six "strong buy" and one "hold" recommendations from analysts,  have lost 6 percent so far this year, leaving the company with a market value of C$400.5 million.

 

 

 

Quick facts: Wi-LAN Inc

Price: - -

TSX:WIN
Market: TSX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: XPhyto sees Germany as key market as they announce deal with...

XPhyto (CSE: XPHY- OTC: XPHYF) CEO Hugh Rogers and Bunker, Managing Director Wolfgang Probst joined Steve Darling from Proactive Vancouver to share news the company has signed a deal with German Brewer Oettinger development, production, and distribution of cannabis-infused beverages and...

2 days, 2 hours ago

2 min read