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WiLAN shares drop sharply after appeal loss

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Published on December 11, 2012; Published on December 11, 2012
The Canadian Press

Shares in Wi-LAN Inc. (TSX:WIN) dropped sharply today after the technology patent company said a U.S. appeal court ruled against it in a patent dispute.

Topics :: Wi-LAN , LG Electronics , Toronto Stock Exchange , New York State

The company says the appeal court affirmed a lower New York State court ruling that LG Electronics did not infringe on Wi-LAN's V-Chip patent.

Wi-LAN says it is "surprised and disappointed'' by the decision and is reviewing its options.

In afternoon trading, Wi-LAN shares where down 40 cents, or 8.16 per cent, to $4.50 on the Toronto Stock Exchange.

V-Chip enabled TVs and digital TV receivers allow owners to block objectionable content.

Wi-LAN licenses the rights to patents in its portfolio and earns money through royalty payments from companies that use the protected technology in their products and services.

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