Acacia Research Shares Fall 19% on Patent Case Ruling
January 21 2015 - 9:44AM
Dow Jones News
By Chelsey Dulaney
Acacia Research Corp. (ACTG) shares plummeted in morning trading
Wednesday after a California court ruled against the company in
patent-infringement cases involving Apple Inc. (AAPL), Verizon
Communications Inc. (VZ), AT&T Inc. (T) and HTC Corp.
(2498.TW).
Shares were recently down 18.6% to $13.
Acacia said a California district court found no infringement in
the cases on Tuesday. Big tech firms like Apple often face
patent-infringement suits involving their products.
Newport Beach, Calif.-based Acacia is a patent-licensing firm
that brought in about $130.6 million in revenue in 2013 through 200
patent portfolios. Last week, Acacia settled a patent case with
GPS-maker TomTom Inc. (TOM2.AE).
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
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