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Wi-Lan Loses Patent Lawsuit- Shares Currently Halted

UPDATE: The Stock has resumed trading and is down 24 percent.

Shares of Wi-Lan (NASDAQ: WILN) are currently halted after the company announced that it lost a patent suit it brought against Alcatel-Lucent USA Inc., (NYSE: ALU) Ericsson Inc., (NASDAQ: ERIC) HTC Corporation and Sony Mobile Communications (NYSE: SNE).

WiLAN is disappointed with the jury’s decision and is currently reviewing its options with trial counsel, Vinson & Elkins LLP.

The stock was already down more than 7 percent on the day after the company released a statement Monday morning that it had settled another patent suit with Doro AB.

Shares will resume trading at 3:30 p.m. EST.

Disclosure: At the time of this writing, the author had no position in the company mentioned.

[stock-tools exchange="NASDAQ" symbol="WILN" image_height="230" image_width="350"]

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