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Roku Slips After Universal Electronics Claims Win in Patent Case -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – Roku Stock (NASDAQ:) fell 8% Wednesday following Universal Electronics’ victory in the patent infringement lawsuit it brought against the manufacturer of streaming and remote devices.

Universal Electronics shares (NASDAQ:) rose 5%.

According to Universal, the United States International Trade Commission has banned Roku from importing infringing “televisions, set top boxes, remote control devices, streaming devices and sound bars.”

Roku is allowed to import items provided they don’t infringe on Universal’s patents, according to the order. Universal allows remotes to be used with many electronic devices.

The Dec. 3 order will be finalized on January 9. The order was issued Dec. 3, and will become final Jan. 9.

ITC handles disputes involving imported goods that infringe U.S. patents and imports that cause harm to the domestic industry due to unfair trade practices in an exporting country.

Universal brought the case against Roku, TV-maker TCL and Hisense to the ITC last year for violating multiple patents. Later, the case was narrowed to Roku.

Universal has also filed cases against Roku at the Central California District Court.

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