Shares of Unwired Planet (UPIP) soared as much as 18% after the patent licensing company run by CEO Boris Teksler, won its first patent infringement case in the Chancery Division of the High Court of Justice, Patents Court in London against Samsung Electronics Co. and Huawei Technologies Co.
Unwired Planet shares gained as much as 17 cents to 98 cents a share and are currently up 12.5% or 10 cents to 91 cents. They've traded between 54 cents and $1.50 over the past year.
The decision by Judge Colin Birss is the first in a series of patent trials in connection with
European Patent EP (UK) 2,229,744 which concerns wireless mobile telecommunications.
Judge Birss said the patents were “essential” to 4G telecommunications networks
The case is Unwired Planet International v Huawei Technologies & ors, Chancery Division, High Court of Justice, Patents Court, HP-2014-000005.
The win is good news for investors including Mast Capital, the Boston-based investment manager with $1 billion in assets under management which acquired as much as an 18.8% stake in Unwired Planet over the summer through acquisitions of shares previously owned by Starboard Value and Indaba Capital Management.
Mast Capital's Peter Reed also sits on Unwired Planet's board and is part of a new strategic committee, which also includes Teksler and direct Richard Chernicoff.
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