InterDigital slips 22% as hearing against Samsung begins
InterDigital Inc. (Nasdaq:IDCC) is falling more than 22% today after the company announced the start of a hearing in the U.S. International Trade Commission against Samsung Electronics Co. Ltd. InterDigital, a King of Prussia, Pa.-based wireless technology designer and distributor, alleges that Samsung engaged in unfair trade practices through its sales of handsets and components, which violate five InterDigital patents. InterDigital said in a statement today that the committee has so far recommended a non-binding finding that Samsung did not violate fair trade practices. But, the hearing is set to end on July 15 with the target date for a final committee determination set for March 25, 2009.
Shares of InterDigital are down $5.68 to $19.57 at 11:05 ET on trading volume of more than 2 million shares.
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