InterDigital, Acacia slump following White House ITC veto

|About: Acacia Research Corporation (ACTG)|By:, SA News Editor

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.