Shares of intellectual property licensing company WiLAN WILN tumbled on news Wednesday that a court is granting a summary judgement in favor Apple Inc. AAPL.
WiLAN has been in litigation with Apple along with HTC Corporation and Sierra Wireless Inc. claiming patent infringement related to LTE technologies.
According to WiLAN’s press release, it appeared that Judge Dana M. Sabraw in the U.S. District Court for the Southern District of California will grant Apple a summary judgement on “invalidity and non-infringement defenses.”
The status of other litigation remains unknown which may also be a concern for investors as WiLAN has an additional case pending with Apple in the same court district involving five LTE-related patents.
WiLAN traded at $3.13 in the pre-market on Thursday, down 10.30 percent.
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