Paltalk Holdings Says District Court Jury Has Awarded Company $65.7M In Verdict Against Cisco For Infringing US Patent
Portfolio Pulse from Benzinga Newsdesk
Paltalk Holdings has been awarded $65.7 million in a patent infringement lawsuit against Cisco. The lawsuit, filed in July 2021, claimed that Cisco's products infringed on Paltalk's U.S. Patent No. 6,683,858.
August 30, 2024 | 10:01 am
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Cisco has been ordered to pay $65.7 million to Paltalk Holdings for patent infringement, which may negatively impact its financials and investor sentiment.
The $65.7 million verdict against Cisco could negatively affect its financials and investor sentiment, potentially leading to a short-term decline in stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Paltalk Holdings has secured a $65.7 million verdict in a patent infringement case against Cisco, which could positively impact its financial position.
The $65.7 million award is a significant financial gain for Paltalk Holdings, likely to positively impact its stock price in the short term as it strengthens the company's financial position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100