LogMeIn, Inc. (LOGM) said Tuesday that a federal jury in Eastern District of Virginia found that LogMeIn products do not infringe on U.S. Patent No. 6,928,479, as asserted by 01 Communique.
Michael Simon, LogMeIn's CEO, said, "We are obviously very pleased with the Court's decision, and we feel this validates LogMeIn's long-standing tradition of investing in the development of unique and innovative products. We will continue to vigorously defend patent lawsuits, and we will not succumb to attempts by litigious parties to profit from our ongoing investments in innovation."
LogMeIn shares closed Tuesday's regular trading session at $21.26, up $3.48 or 19.57%. The shares are currently losing 4.05% in after hours trading.
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