Why Universal Display Is Having a Dark Day
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What: Shares of OLED specialist Universal Display (NAS: PANL) are having a dark day today, down by as much as 11%, on fears that parts of some of its Japanese patents have been invalidated.
So what: The company filed an 8-K today with an update related to invalidation trials in Japan concerning two patents. There are two patents in question, referred to as JP '929 and JP '024. The Japanese Patent Office, or JPO, has acknowledged the validity of certain parts within both patents, while invalidating "the broadest claims" within both patents.
Now what: The Japanese High Court has backed the JPO's decision regarding the JP '929 patent. The company believes that both decisions are erroneous and intends to appeal the decision. UDC is waiting to receive translated copies of the JPO's decision on the JP '929 patent before proceeding with an appeal with the Japanese Supreme Court. UDC also said it does not believe the decisions will have a material adverse impact on its business.
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