Why ctxs stock is not affected at all today since was sued too?
The company spent more than $30 million to develop its product, and serves mostly small and medium-sized companies, he said. A suit against Citrix Systems Inc. (CTXS) over the same patent has been on hold while the U.S. Patent and Trademark Office took a second look at it. Stringer said the examiner upheld the patent, and Citrix is challenging that decision.
In a statement, LogMeIn said it “continues to believe that it has strong defenses to the claims made by 01 Communique and intends to vigorously defend against these claims.”
not sure, but this is over done for sure. LOGM could still win, and/or if they lose, the damages probably wont be near the loss in market cap they have suffered. Finally this stock is worth looking at again.
I understand your position, however the patent under question is the basis for how LOGM provides communication linkages for its customers. If 01 continues to have ‘patent protection success’, it could shut down LOGM entirely. Also, as LOGM is providing this service (in many cases) for free, damages if awarded can be tripled as this business model demonstrates ‘willful infringement’.
I don’t profess to know how this will roll out, but I do see LOGM stock at the $10-$12 mark in the near future as the levity of this ruling takes hold.