Amazon Ordered To Pay $122M For Infringing Targeted Advertising Patents; Texas Jury Rules Against Amazon In AlmondNet Inc. Patent Case
Portfolio Pulse from Benzinga Newsdesk
Amazon has been ordered to pay $122 million for infringing on targeted advertising patents owned by AlmondNet Inc. A Texas jury ruled against Amazon in this patent case.
June 14, 2024 | 8:07 pm
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Amazon has been ordered to pay $122 million for infringing on targeted advertising patents owned by AlmondNet Inc. This legal ruling could have a short-term negative impact on Amazon's stock price due to the financial penalty and potential reputational damage.
The $122 million penalty is a significant financial hit for Amazon, and the legal ruling could also affect its reputation. Investors may react negatively in the short term, leading to a potential drop in stock price.
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