Seeking Alpha

InterDigital, Acacia slump following White House ITC veto

  • Over the weekend, the Obama administration vetoed a pending ITC ban on older iPhones and iPads ruled to be infringing standards-essential Samsung IP. InterDigital (IDCC -10.1%) and Acacia (ACTG -2.5%) shares are selling off today, apparently on concerns about the ruling's impact for the companies' own ITC infringement suits (I, II).
  • In justifying the veto, U.S. trade rep. Michael Froman said he "strongly shares" concerns raised by the DOJ and USPTO about ITC bans being issued in cases involving standards-essential patents.
  • In June, the White House announced 5 executive actions and 7 legislative proposals meant to limit the power of perceived patent trolls, and FTC chairwoman Edith Ramirez followed up by requesting a major investigation of their behavior.
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