08:31 AM EDT, 10/11/2024 (MT Newswires) -- Paltalk ( PALT ) said Friday that a judge filed an order for final judgment in its favor in its patent infringement lawsuit against Cisco Systems ( CSCO ) .

The company said that Western District of Texas Judge Alan D. Albright filed an Oct. 8 order granting a motion for final judgment in connection with the case, launching the period for filing any post-trial motions or appeals.

In August, a jury awarded Paltalk ( PALT ) $65.7 million in connection with the lawsuit. After legal fees and litigation expenses, the company estimates it will receive no more than one-third of the gross proceeds.

Cisco ( CSCO ) did not immediately reply to MT Newswires' request for comment.

Paltalk ( PALT ) shares were down more than 2.5% in Friday's premarket activity.

Price: 2.5600, Change: -0.07, Percent Change: -2.66