It has been a busy day at Eastman Kodak (NYSE: EK). Early in the morning, the company announced a major reorganization. In the afternoon, Kodak announced patent suits against Apple (NASDAQ: AAPL) and Taiwan-based smartphone firm HTC.
Kodak has not been able to sell or license its patent portfolio at any reasonable price. So, the new option appears to be to test the value of the intellectual property within the legal system. Kodak would not be at the brink of bankruptcy if management had been able to reach reasonable terms to off load its patented technology. Perhaps the patent pool was offered to Apple and HTC in the past.
Kodak announced that
A complaint filed with the U.S. International Trade Commission (ITC) specifically claims that certain of Apple’s iPhones, iPads, and iPods, and certain of HTC’s smartphones and tablets infringe Kodak patents that relate to technology for transmitting images. Kodak also alleges that certain of HTC’s smartphones infringe a patent that covers technology related to a method for previewing images which is already the subject of pending actions against Apple. Separately, Kodak filed suits today against Apple and HTC in U.S. District Court for the Western District of New York alleging the same infringement.
Kodak’s share were up 50% after the morning reorganization announcement and closed at $.60. The market is much less impress with the suits. Shares are only higher by 5% in the aftermarket to $.63
Douglas A. McIntyre
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