4 Consumer Stock Stories Making TGIF Headlines
The Gap (NYSE:GPS): Closing price $41.73
On Friday, a jury in Marshall, Texas said that The Gap did not infringe the Texas company Alexsam’s patents for prepaid gift cards, in the second case in June in which a retailer resisted royalty demands from the licensing firm. The jury turned aside Alexsam’s request for $34.5 million in damages, as Gap, the biggest specialty apparel retailer in the United States, claimed it did not use the tech in question, and the jury concurred. Closely-held Alexsam owns patents that cover systems through which to activate and recharge stored-value cards, and has claimed that it is entitled to royalties on every gift card sold.