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Finjan, Blue Coat Systems resolve patent dispute, avoid retrial

The cybersecurity company agrees to confidential terms with Symantec-owned Blue Coat
cybersecurity
Finjan still has multiple infringement suits pending

Finjan Holdings Inc. (NASDAQ:FNJN) said Monday that it has avoided a retrial in a patent infringement case against Blue Coat Systems Inc., which is owned by Symantec Corp (NASDAQ:SYMC).

The cybersecurity company and Blue Coat have agreed to a confidential term sheet, with a final agreement expected to be in place by 28 Feb 2018.

Finjan shares surged 34.5% to $2.38 in Monday trading on the news.

With the agreement, a retrial scheduled to start Feb 12 has been vacated. The new jury trial would have addressed additional liability issues revolving around two Finjan patents.

Finjan still has infringement lawsuits pending against Palo Alto Networks (NYSE:PANW), Cisco Systems Inc. (NASDAQ:CSCO), Sonicwall Inc. and Juniper Networks Inc. (NYSE:JNPR), among others.

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