Acacia Research Settles This Dispute with Apple

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LegalThis morning, a subsidiary of Acacia Research Corporation (NASDAQ:ACTG) officially announced that they have settled their patent lawsuit against Apple (NASDAQ:AAPL) in the U.S. District Court for the Northern District of Texas.

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The Mobile Enhancement Solutions unit originally filed the case against a group of tech companies, which also included AT&T (NYSE:T), Sprint (NYSE:S), and Verizon (NYSE:VZ), with regard to a selection of patents belonging to Philips Electronics (NYSE:PHG). Neither Acacia nor Apple disclosed the specific terms of the agreement, but Acacia’s shares are up to $26.88 today, an increase of 4.76%.

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