Patlex Stock Rises on Word of Patent Judgment
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Patlex’s stock soared after the Chatsworth laser company won a partial victory in its patent-infringement suit against another laser maker, Control Laser International of Orlando, Fla.
The stock jumped $3 a share, to $10.75, in over-the-counter trading last Thursday after a federal jury in Orlando ruled that certain lasers produced by Control Laser infringe on a patent awarded in 1977 to Gordon Gould, vice chairman and a director of Patlex. Patlex’s stock closed Monday at $11.25.
However, Control Laser said it believes it has grounds for an appeal. Hearings continue on a counterclaim filed by Control Laser, which contends the Gould patent is invalid.
Patlex was formed principally to secure Gould his patents and to sue infringers. In return for arguing his case, Patlex receives 64% of any licensing income derived from those patents.
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