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Loving the underlying fundamentals and way the stock is moving!
Also fun to see familiar screen names as well as people I met through the years still here - did I actually see Bill D pop in?!? Some blasts from the past for sure from our gatherings in Houston, NJ, SoCal and KoP - fond memories for sure, and paying respects to those we lost along the way.
Now if y’all could get the company to raise the dividend…that would be very welcome!
BLTA!
R
Five o clock charlie...just made a new high!!!...hi hi hi hi...hi!!!...I don't think I've ever had as much fun with idc...as I'm having now....and it's got nothing to do with money!!!!!
Oreos are great with milk (milk and cookies). But, oreenos go better with Louis Thirteen.
Investtwmp take the short slanted article you posted to the Lenovo board. We are not interested.
Lenovo lost the IDCC infringement case. And therefore has to pay up for past use and interest. And if and when IDCC wins theUK appeal the amount/rate and interest owed by Lenovo will also rise.
Lenovo Named 'Overall Winner' In FRAND Costs Ruling
By Alex Baldwin · Listen to article
Law360, London (June 27, 2023, 9:26 PM BST) -- Chinese technology giant Lenovo has walked away the "overall winner" in a London court judgment on costs in its long-running dispute with wireless and video technology company InterDigital over fair, reasonable and nondiscriminatory licensing rates for wireless patents.
Although the High Court ordered Lenovo Group Ltd. Tuesday to pay an additional 4% interest on top of $138 million sum to license InterDigital Technology Corp.'s standard-essential patents and held that Lenovo "lost" on "foreign law" matters in the proceedings, there was "no doubt" that Lenovo came out on top in the trial and that InterDigital should bear the rest of the costs in the licensing proceedings, Judge James Mellor ruled.
As Lenovo had alleged it should not have to pay interest, Judge Mellor ordered the company to pay InterDigital's legal costs related to the "interest issues. But, the judge added, "The fact that Lenovo will be 'writing the cheque' and a sizeable cheque at that cannot, in my view, convert InterDigital into the winner of the FRAND trial."
InterDigital's suit against Lenovo accused the Chinese company of infringing five of its telecommunication patents, arguing Lenovo used InterDigital's patented technology in its products without a proper license.
The English courts first ruled that three of the five patents were valid and essential, then moved on to determining whether terms of the licensing agreement offered by InterDigital and Lenovo were fair, reasonable and nondiscriminatory, or FRAND.
InterDigital proposed an offer that would see Lenovo pay about $337 million for a six-year license, whereas Lenovo said it should pay $80 million for the same term, with a 15% leeway to account for sales of its devices.
But Judge Mellor ruled in March that neither InterDigital nor Lenovo's offers were FRAND, and said the court should set the rate, ordering Lenovo to pay a lump sum of $138.7 million, which included past sales of its products.
However, Judge Mellor did not determine in the March ruling whether Lenovo should pay interest on its sales.
InterDigital contended that Lenovo should pay at least a 4% interest rate for its sales, a figure that it says Lenovo had previously agreed to in a draft license agreement. It also floated a higher 5-10% interest rate based on expert evidence.
Lenovo argued the court did not have a jurisdiction to award interest in this "contractual" claim. It added that granting interest payments would encourage licensors to "hold out" from setting FRAND terms to secure interest payments down the line.
In Tuesday's judgment, Judge Mellor held that the 4% rate previously agreed upon by the parties was suitable and found no justification to set a higher rate.
The judge also gave InterDigital permission to appeal two points of his FRAND judgment concerning whether he should have taken into account the "subjective" view on the value of the patent license, and whether interest should be awarded in the sum "derived from the comparables analysis."
InterDigital's Chief Legal Officer Josh Schmidt welcomed the court's "careful consideration," decision to award interest and granting permission to appeal these aspects of the ruling.
The court also gave Lenovo the go-ahead to appeal the court's decision on whether limitation periods "have a role to play in the relationship between willing licensor and willing licensee."
John Mulgrew, Lenovo's vice president, deputy general counsel and chief intellectual property officer, also cheered the decision, calling the case a "broader, landmark victory for the technology industry and the customers we serve."
InterDigital was represented by Adrian Speck KC, Mark Chacksfield KC and Edmund Eustace of 8 New Square, instructed by Gowling WLG.
Lenovo was represented by Daniel Alexander KC of 8 New Square and James Segan KC of Blackstone Chambers, instructed by Kirkland & Ellis International LLP.
The case is InterDigital Technology Corp. and others v. Lenovo Group Ltd. and others, case number HP-2019-000032, in the High Court of Justice of England and Wales.
loophole: IF we still have a possible action against nokia, I wish one of our analysts would raise this question on a conference call.
Wouldn't a footnote or something in the financial statements state something about any future claims against past infringement?
Too bad we don't have Tom Carpenter or someone like him we could call on to ask management that question. Maybe we could ask the idiot that had us dead and buried (Bank of America?) to raise this question ! ! !
Loop It’s good that you are still here to remind us of the finer points of those struggles during what were at least very uncertain times. I have been around since the pre-MOT decision. There was also discussion of some company being the indemnifier in wireless IP disputes. As always, thanks for your input.
Some were not around when the 3g standards body was created. Many said it was a product of a group known as MENS (Mot, Ericy, Nok and Siemens). Nok was the top producer during the era and small companies making contributions of their own IPR were afraid to fight with this big shot for fear of retaliation via boycotts in acceptance in the final standards.
MO
loop
InterDigital (IDCC)
Jefferies analyst Mark Lipacis maintained a Buy rating on InterDigital yesterday and set a price target of $106.00. The company’s shares closed last Tuesday at $92.37, close to its 52-week high of $93.32.
According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 30.3% and a 72.5% success rate. Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and Smart Global Holdings.
Currently, the analyst consensus on InterDigital is a Strong Buy with an average price target of $108.33.
Loop...thanks...eom
Pnokio sold 3 billion 3g units that has never been litigated. According to IDCC they had reached some sort of agreement requiring a later determination. The 2g was settled through arbitration. If the matter is still alive as Merritt and Shay represented, then Pnokio and IDCC can now move forward regarding the FRAND terms necessary to determine a fair and reasonable amount of royalty for the 3g sales made by Pnokio.
MO
loop
Loop, not following, are you talking about the Pnokio of yester year? How so? I thought the Pnokio case was lost and done years ago.
Even at the .175 rate, Pnokio should owe around 525 million unless our former management somehow fumbled the ball. Tack on interest and we have a monster win.
MO
loop
June 28 (Reuters) - InterDigital Inc: Jefferies raises target price to $106 from $90
Monterey, at this time it is merely puffery on Lenovo’s part. The appeal has to play out.
Lenovo apparently has no fear of IDCC’s appeal of the license rate.
Lenovo Declared “Overall Winner” in InterDigital FRAND case
27 June 2023
Lenovo today announced that the UK High Court has declared Lenovo undoubtedly the overall winner in ongoing litigation with InterDigital regarding license rates for 3G, 4G, and 5G patents. The Court is requiring InterDigital to pay the bulk of Lenovo’s legal costs for the FRAND (Fair, Reasonable and Non-discriminatory) case.
Today’s judgment further reinforces Lenovo’s continued commitment as a willing licensee and validates the license rate Lenovo advocated for in litigation.
Lenovo’s John Mulgrew, Vice President, Deputy General Counsel & Chief Intellectual Property Officer, welcomes the decision as follows:
“Lenovo’s clear win in this FRAND rate-setting case is a broader, landmark victory for the technology industry and the customers we serve. The Court’s determination that InterDigital’s global cellular royalty rate should be US$0.175 per unit provides full transparency in the face of InterDigital’s supra-FRAND offers and behavior as an unwilling licensor. We are pleased that the UK Court’s judgment facilitates the proliferation of affordable innovation to customers around the world.”
Lenovo’s earlier comments on the FRAND case can be found in this statement.
https://news.lenovo.com/pressroom/press-releases/lenovo-declared-overall-winner-in-interdigital-frand-case/
The full judgment is available here on the National Archive website under case number HP-2019-000032.
https://caselaw.nationalarchives.gov.uk/
I'm at a loss at what the shorts exit strategy is...it's not like we're some overblown rookie who hasn't seen his share of bad days...were talking about 50 pct cash as a pct of mkt value...new stuff coming on line....26 myn shares outstanding...and the tender just took out just about all the sellers...there are better opportunities to be short at this point....close your eyes and shoot an arrow at the top 5...you're bound to be more successful on the short side...no disrespect to da shortz!!!!
Teecee56, open interest has not expanded. I am down to my last 10 calls. There were a lot of times in the last 6 months that I had about half of the original call open interest except in April where they bought 10000 calls and those expired. The calls I had were ITM.
Vegas...has open interest expanded along with the shorts...if not....these boys...gonna have to buy a deep sea vessel...to withstand any more good news...and I think they're gonna need more than a 3D printer!!!
6/15 short interest up to 3.085M shares
If Lenovo is now required to post a bond IDCC should have a $3+ quarter
We need a few more O'reeno to breach our all time high of $102going back several years ago.
I wonder if management is anticipating another Dutch Auction to buy back more shares. Looking forward to the July dividend and perhaps now that they got interest on the Lenovo UK case, an increase in the quarterly dividend.
It is about time that management started to share the fruits of these legal matters with its shareholders.
JMO
IDCC now has $86M to recognize from this award ( plus any more adjustments by the judge). The shorts have to be very brave to continue. The only thing that they can depend on is that the $185M does not happen again next year unless Vivo and Oppo......
Loop we just need the appeals court to set the judgment to at least the rate paid by active licensees. Or at the rate requested by IDCC.
I sure hope IDCC makes them pay the entire amount. Motorola/Lenovo has been our enemy from day one of the wireless revolution.
MO
loop
This is the best part of the UK High court news today.
“In addition, the UK’s High Court has granted both parties permission to appeal certain aspects of the judgment”
Now IDCC can appeal the rate set by the court in the Lenovo court.
glen....nice way to start the day!!!
UK court issues interest award to InterDigital, increasing Lenovo’s payment obligation to $184.9 million
Source: GlobeNewswire Inc.
InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced that it has been awarded an additional $46.2 million in its UK High Court case against Lenovo, increasing the total that must be paid to InterDigital to $184.9 million.
The Court agreed with InterDigital that Lenovo should pay interest on the original sum of $138.7 million that it was determined Lenovo must pay, in an earlier decision this year, for a license to InterDigital’s portfolio of 3G, 4G and 5G patents.
In addition, the UK’s High Court has granted both parties permission to appeal certain aspects of the judgment.
“We welcome the Court’s careful consideration of this case and its decision to award InterDigital interest to increase its initial award to $184.9 million, as well as granting us permission to appeal,” commented Josh Schmidt, Chief Legal Officer, InterDigital. “Our significant long-term investments in fundamental research and innovation in wireless and video technologies continue to benefit an increasing wealth of industries and consumers alike, including Lenovo and its customers.”
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq. InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716
Might have been index rebalancing
looks like almost 600k traded after hours....the block must have been overhanging the stock all day...looked like a jump ball at the end....wonder if the company participated on the buyside
I find it interesting that the ask is just below $100 as they seem to be afraid of news.......
I realize that this is the beginning of the quarterly rebalancing, with 1.21 M shares trading the good news is that there has been willing buyers....
IDCC did a little over 1M shares today. Where did they come from???
damn...only been here for 25 years....im kind of a professional in this business....and idc has taught me more than i should be willing to admit about how things work in this crazy quilt we call "the market"....its always two steps ahead...and then a step and 1/2 behind....but i made some bucks and a bunch of good friends along the way!!!
Neither Optis nor InterDigital should regret their London FRAND trials
https://www.iam-media.com/article/jw-column-22nd-june-2023-interdigital-optis-london-frand-trial?utm_source=BREAKING%253A%2BUS%2BSenators%2BTillis%2Band%2BCoons%2Bre-file%2Bpatent%2Beligibility%2Bbill&utm_medium=email&utm_campaign=IAM%2BDaily
Yes, it has been a long learning experience.
Loop, you have been here 38 years ?
This company and it's stock is acting stronger than I have seen over the last 38 years.
MO
loop
nterDigital and the University of Surrey Formalize 6G Research Partnership
Company Release - 6/22/2023
Research collaboration will explore critical 6G features including integrated sensing and communication and reconfigurable intelligent surfaces
WILMINGTON, Del., June 22, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, and the 6G Innovation Centre (6GIC) at the University of Surrey have announced a bilateral research partnership to develop 6G enabling technologies that may impact future wireless standards. Specifically, InterDigital will sponsor research and innovation at 6GIC in technologies such as integrated sensing and communication and reconfigurable intelligent surfaces (RIS), both expected to be important features of 6G.
InterDigital maintains a long heritage of technology innovation and has made continuous contributions to the European wireless research and standards ecosystem through the Horizon Europe 5G public-private partnership program. Last year, InterDigital was awarded funding to contribute to eight UK and EU-led 6G flagship research programs defining the roadmap for 6G. The University of Surrey’s 6GIC was launched in 2020 as a premier global research hub dedicated to advanced telecommunications engineering that brings together the physical and virtual worlds and explores new 6G opportunities from the use of ambient information and ubiquitous coverage. The 6G partnership will support joint dissemination of research findings in pre-standards and research forums such as ETSI, Innovate UK, and Horizon Europe partnership projects, and in top tier peer review journals.
“Our new partnership with 6GIC reflects InterDigital’s commitment to collaborate with leading universities and programs to encourage innovative research outcomes and bolster the impact of our innovation through wireless standards like ETSI and 3GPP,” said Milind Kulkarni, VP and Head of Wireless Labs, InterDigital. “Research collaborations like this both support UK strategies to promote wireless innovation through standard essential patents and leverages our unique expertise in areas like RIS and integrated sensing and communication to drive the potential for 6G forward.”
“6GIC is thrilled to embark on a new partnership with InterDigital,” said University of Surrey Professor Rahim Tafazolli FREng, Head of the Institute for Communication System. “Innovation is at the core of our DNA, and this great opportunity to collaborate with InterDigital will allow us to ideate and develop critical 6G technology features including integrated sensing and communication and reconfigurable intelligent surfaces. This important collaboration will further nurture and drive forward our research and innovation strategy.
The multi-year research partnership between InterDigital and 6GIC was officially formalized at the 6GSymposium held at the University of Surrey
InterDigital and the University of Surrey formalise 6G research partnership
Via InterDigital
Jun 20, 2023
The 6G Innovation Centre (6GIC) at the University of Surrey and InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, have announced a bilateral research partnership to develop 6G enabling technologies that may impact future wireless standards.
InterDigital maintains a long heritage of technology innovation. It has made continuous contributions to the European wireless research and standards ecosystem through the Horizon Europe 5G public-private partnership program.
Regius Professor Rahim Tafazolli FREng, Founding Director of the 6G Innovation Centre at the University of Surrey, said:
“We here at the 6G Innovation Centre are thrilled to embark on a new partnership with InterDigital. Innovation is at the core of our DNA, and this great opportunity to collaborate with InterDigital will allow us to ideate and develop critical 6G technology features including integrated sensing, communications and reconfigurable intelligent surfaces. This important collaboration will further nurture and drive forward our research and innovation strategy.”
Last year, InterDigital was awarded funding to contribute to eight UK and EU-led 6G flagship research programs defining the roadmap for 6G.
The University of Surrey’s 6GIC was launched in 2020 as a premier global research hub dedicated to advanced telecommunications engineering that brings together the physical and virtual worlds and explores new 6G opportunities from the use of ambient information and ubiquitous coverage. The 6G partnership will support joint dissemination of research findings in pre-standards and research forums such as ETSI, Innovate UK, and Horizon Europe partnership projects, and in top tier peer review journals.
Milind Kulkarni, VP and Head of Wireless Labs, InterDigital, said:
“Our new partnership with 6GIC reflects InterDigital’s commitment to collaborate with leading universities and programs to encourage innovative research outcomes and bolster the impact of our innovation through wireless standards like ETSI and 3GPP.
“Research collaborations like this both support UK strategies to promote wireless innovation through standard essential patents and leverages our unique expertise in areas like RIS and sensing and communications to drive the potential for 6G forward.”
https://www.telecomtv.com/content/6g/interdigital-and-the-university-of-surrey-formalise-6g-research-partnership-47762/
jealmc, I know that fintel does not have all the shares available for shorting. For those of us that watch shares available it has been coming down. A few weeks ago it was always 800K or more. Now it is 500K to 550K. I like the trend...
“Where are they coming from as there was only 550K available to borrow.”
Fintel only gets the short shares available from one large brokerage, it’s not the total number available to short. Interactive Brokers appears to be their source. IB also appears to get better rates for those lending their shares out than most brokerages. TDA is lousy at that. E*trade does a good job for share lenders.
Thanks for that clarification Vegas. A lot of shares changing hands.
dsteeler, all insiders are prohibited from selling short or buying or selling call and put options. I believe that applies to the company. Volume today 847K shares. Where are they coming from as there was only 550K available to borrow.
It is interesting that the company used two priced Dutch auctions to acquire shares. Could it be the company didn’t achieve the success in getting the share buyback they wanted? Just pure speculation, but could the company get shares through an option play to satisfy what appeared to be an urgent share acquisition? I’ve been here a long time (30 plus years) and have accumulated a substantial holding for being just an individual investor. I’ve wrote covered calls on a fraction of that holding many times. Sometimes called,and other times not called. The overall market is hot, but for IDCC it just seems out of the norm. A lot of folks are going to be out of their shares at many different strike prices. I’ll loose a few at 75, but knew that going in. Different strategies going forward. IDCC has been good to me, and they’re on a roll so I’m looking forward to even better returns. I guess I’m just wondering if the company could use the option market to augment the share buyback, or even if it’s legal. All very interesting.
We might do 4 if premarket was a correct reflection of things to come.
$93 O'reeno. Like Ernie Banks of the Cubs would say 'LETS PLAY 2' ! ! !
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