See feature article below: Finjan Holdings, Inc. (NASDAQ: FNJN)
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Report For: Finjan Holdings, Inc. (NASDAQ: FNJN)
Shares of FNJN are up 15% today at $1.83 on news the company settled a lawsuit and entered into a licensing agreement for their patents. Today’s trading volume has exceeded the daily average by a factor of 17.
EAST PALO ALTO, CA–(Marketwired – Jun 8, 2016) – Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, and its subsidiary Finjan, Inc. (“Finjan”), today announced that Finjan and Proofpoint have reached a mutually agreed patent license, settlement and release agreement (“the Agreement”). Specifically, Case No. 3:15-cv-5808-HSG, entitled Finjan, Inc. v. Proofpoint, Inc. and Armorize Technologies, Inc. (collectively “Proofpoint”), pending before the Honorable Haywood S. Gilliam, Jr. in the U.S. District Court for the Northern District of California, was dismissed with prejudice on June 7, 2016.
As part of the settlement, Proofpoint will obtain a license to the Finjan patent portfolio and pay an aggregate of $10.9 million in cash as follows: (A) $4.3 million within three (3) business days of execution of the definitive agreement, which Finjan received on June 6, 2016, (B) $3.3 million on or before January 4, 2017, and (C) $3.3 million on or before January 3, 2018. The terms of the Agreement are confidential.
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan’s inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.
Source – Company Press Release
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