Paltalk (PALT) said Friday that a judge filed an order for final judgment in its favor in its patent infringement lawsuit against Cisco Systems (CSCO).
The company said that Western District of Texas Judge Alan D. Albright filed an Oct. 8 order granting a motion for final judgment in connection with the case, launching the period for filing any post-trial motions or appeals.
In August, a jury awarded Paltalk $65.7 million in connection with the lawsuit. After legal fees and litigation expenses, the company estimates it will receive no more than one-third of the gross proceeds.
Cisco did not immediately reply to MT Newswires' request for comment.
Paltalk shares were down more than 2.5% in Friday's premarket activity.
Price: 2.5600, Change: -0.07, Percent Change: -2.66
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