(Bloomberg Law) Koss Corp. rose more than 23% on Tuesday after the Patent Trial and Appeal Board abandoned reviews of patents challenged by iPhone giant Apple Inc.
The patent review board says Apple did not meet the burden to call for a review of patents 10,491,982 and 10,506,325.
The board said Apple needed to demonstrate a “reasonable likelihood” that the contested patents did not cover new inventions.
Koss has sued the iPhone giant and other firms for infringing the patents. Other Koss patents are still under the review of the patent board.
The 23% surge in Koss shares has been the most since June. The stock was paused for trading following the heightened volatility.
KOSS: NASDAQ is up +12.15% on premarket.
