Paltalk Unit Wins $65.7 Million Jury Verdict Against Cisco Systems in Patent Infringement Case-March 2024-www.financetom.com

Paltalk Unit Wins $65.7 Million Jury Verdict Against Cisco Systems in Patent Infringement Case

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Paltalk Unit Wins $65.7 Million Jury Verdict Against Cisco Systems in Patent Infringement Case

Sep 1, 2024 6:20 AM

07:08 AM EDT, 08/30/2024 (MT Newswires) -- Paltalk ( PALT ) said Friday its subsidiary Paltalk Holdings was awarded $65.7 million in a patent infringement case against Cisco Systems ( CSCO ).

The lawsuit, filed in the US District Court for the Western District of Texas in July 2021, alleged that certain Cisco ( CSCO ) products infringed on U.S. Patent No. 6,683,858.

The award remains subject to post-trial proceedings, including potential appeals by Cisco ( CSCO ), and the final judgment by the court.

Paltalk ( PALT ) said it will receive around one-third of the gross proceeds after deducting litigation expenses, including legal fees.

Cisco ( CSCO ) did not immediately respond to requests for comment from MT Newswires.

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