Sonos stock rallies after trade court rules Google violated patents


Sonos Inc. SONO, -0.10% shares rallied in the extended session Thursday after the International Trade Commission ruled that certain audio players, controllers, and components that Alphabet Inc.’s GOOG, -0.07% GOOGL, -0.02% Google sold in the U.S. violated as many as five of its patents. Sonos shares surged 6% after hours, following a 0.1% decline to close the regular session at $28.87. “The commission has determined that the appropriate remedies are a limited exclusion order and a cease-and-desist order against Google,” the ITC said in a statement. “The commission has also determined to set a bond in the amount of 100 percent of the entered value of the infringing products imported during the period of presidential review.” For their part, Alphabet shares were up 0.3% after hours, following a less than 0.1% decline in the regular session.

Source: Marketwatch

Related Posts