WiLAN shares drop sharply after appeal loss

The Canadian Press
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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.

(Stock image)

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.

Organizations: Wi-LAN, LG Electronics, Toronto Stock Exchange

Geographic location: New York State

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