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Immersion Corp. (IMMR) Leaped To A 5-Month High After Settlement

Immersion Corp. (IMMR) announced Tuesday that it entered into a settlement and license agreement with Google Inc. (GOOG) and Motorola Mobility LLC, resolving the patent infringement litigation brought by Immersion against Motorola. Immersion will receive compensation for prior shipments of Motorola devices containing Basic Haptics technology.

Immersion gapped up sharply Tuesday and advanced further around midday. The stock ended the session with a gain of 1.63 at $6.32, with volume at over an 8-month high. Immersion broke out to a 5-month high and re-crossed both its 50 and 200-day moving averages.

by RTTNews Staff Writer

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