- U.K.'s High Court ordered Lenovo Group Ltd (OTC:LNVGF) (OTC:LNVGF) to pay $138.7 million to InterDigital, Inc (NASDAQ: IDCC) in settlement of a licensing dispute.
- The Court urged Lenovo to pay the penalty for a license to InterDigital's portfolio of 3G, 4G, and 5G patents and pay in full for past sales dating back to 2007.
- The Court will decide whether additional interest is due on the one-time payments.
- "We welcome the Court's decision as the first major SEP FRAND judgment that recognizes that a licensee should pay in full for the past infringement of standard essential patents, and we agree with the Court that this could be a powerful way of guarding against patent holdout in the future," commented Josh Schmidt, Chief Legal Officer, InterDigital.
- "However, we plan to appeal, as we believe that certain aspects of the decision do not accurately reflect our licensing program."
- In January, InterDigital shared winning a critical decision from a U.K. court in the company's litigation against Lenovo.
- The Court upheld the lower court decision, confirming that Lenovo infringed a valid and essential InterDigital cellular patent.
- In July 2021, the U.K. High Court ruled that the patent-in-suit is valid, infringed, and essential to the 4G LTE standard.
- IDCC has outperformed the market year-to-date. Invesco QQQ Trust (NASDAQ: QQQ) ETF representative of the Nasdaq index has gained 14.04% YTD, while the IDCC shares gained 48.39% YTD.
- IDCC Price Action: IDCC shares traded lower by 1.32% at $73.45 on the last check Friday.
Court Awards Nearly $140M To Patent Firm Outperforming The Market