InterDigital Inc (IDCC)

[sonetirot]

I do not see anything wrong with it. When person buy PUT. He bought the right to sell the stock to you at the option exercise price he bought. He had the right to make decision until 4:30 PM on Friday when option expire. It has nothing to do with the price at market close. The news come out I think right after 4:00 PM so stock drop fast. Person who bought the PUT decide to exercise his right. If news come out at 5:00 PM you would have been saved since it would be too late for him to exercise his right.

That is same as call. He called his broker not to exercise to buy at 23 since he knew price already drop below after 4:00 PM.

There are nothing wrong with the assignment.
BTW : I think some broker Option buyer have the right to make decision to exercise until Saturday.