ClearOne rallies after prevailing against Shure in technology patent case

ClearOne Inc (NASDAQ:CLRO) shares surged Friday after announcing that it had prevailed against Shure Inc in a case before the US Patent and Trademark Office.

The audio and visual communication technology company said in a statement that the agency’s trial and appeal board has issued a final decision confirming Patent No. 9,264,553, covering ClearOne’s innovations in beamforming microphone arrays (BMAs).

Shares of Salt Lake City-based ClearOne rose 27% to $2.33 in Friday’s Nasdaq trading.

READ: Arcadia Biosciences announces end to lawsuit against Arista Cereal Technologies

The case, according to ClearOne, was brought by Shure, which ClearOne has accused in federal court of infringing on ClearOne patents covering BMA technology.

“Shure took its best shot at invalidating what is perhaps our broadest BMA patent, the ’553 Patent, and it failed,” ClearOne Chair and CEO Zee Hakimoglu said. “Today’s ruling further validates ClearOne’s position as a leading innovator in BMA technology and the strength and importance of ClearOne’s patented innovations in this space.”

ClearOne said the BMA technology is protected by at least a dozen patents and pending patent applications.

The company has asserted before the US District Court for the Northern District of Illinois that Shure infringes on Patent No. 9,635,186, which is a descendant of the 9,264,553 patent.

Shure hadn’t immediately returned a request for comment from Proactive Investors.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors