Immersion files complaint against Meta, alleging patent infringement

0
63

Immersion Corp. IMMR, +5.86% said Friday that it has filed a patent-infringment complaint against Facebook-parent Meta Platforms Inc. FB, +1.83% in a Texas court. Immersion stock rose 0.7% in premarket trading, while Meta shares shed 0.8%. Immersion alleges that Meta’s augmented and virtual reality systems, including the Meta Quest 2, infringe on six patents that cover various uses of haptic effects, or related to the sense of touch. Immersion said it is seeking to recover a “reasonable royalty” for the alleged infringement. “Our intellectual property is relevant to many of the most important and cutting-edge ways in which haptic technology is and can be deployed, and, in the case of AR/VR experiences, haptics is crucial to an immersive user experience,” said Immersion Chief Executive Francis Jose. Immersion shares have slipped 4.4% year to date through Thursday while Meta’s stock has plunged 43.0%, and the S&P 500 SPX, +2.47% has declined 14.9%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Extra: Some Sturm Ruger shareholders are seeking a ‘human rights impact assessment’ of the gun maker. Does your ETF hold the stock?
Next articleBiotech stocks on the move ahead of major oncology event in Chicago

LEAVE A REPLY

Please enter your comment!
Please enter your name here