Shares of Acacia Research Corp ACTG were trading higher by nearly 10 percent early Thursday morning after the company announced it won a patent case against Apple Inc. AAPL.
Acacia, an industry leader in patent licencing, said in a press release Thursday morning that its subsidiary, Cellular Communications Equipment, received a jury verdict in a patent case against Apple.
The jury in the District Court for the Eastern District of Texas found that the company's Patent No. 8,055,820 was valid and infringed by Apple. The jury granted Cellular communications an award of $22.1 million.
Even though the company announced its patent win Thursday morning, a spokesperson for the company confirmed with Benzinga Wednesday evening that it has "won a patent trial against Apple this afternoon" and it will provide a press release with details shortly.
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