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

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

AT&T (NYSE:T)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more AT&T Charts.
AT&T (NYSE:T)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more AT&T Charts.