01:45 PM EDT, 08/16/2024 (MT Newswires) -- (Updates with Walmart's ( WMT ) response.)

Walmart ( WMT ) and Home Depot ( HD ) were both sued Thursday in a federal court in Texas by Convergent Assets for patent infringement.

Convergent Assets alleges that retailers have infringed on its patented method of developing targeted content for a user based on that user's social-networking activities.

"We respect the intellectual property rights of others and are reviewing the complaint and will respond appropriately to the Court," Walmart ( WMT ) told MT Newswires.

Home Depot ( HD ) and Convergent did not immediately respond to requests for comment from MT Newswires.

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