Shares of Interdigital Inc. were up more than 17 percent this morning after the King of Prussia company said a court upheld an arbitration award that directs Samsung to pay Interdigital $134 million in royalties.
A federal judge in New York said Samsung Electronics Co. Ltd., of South Korea, must pay Interdigital the royalties on patents Interdigital holds for certain wireless communications technology.
Interdigital shares were up $2.95, or 17.4 percent, to $19.95 on the Nasdaq market.
Samsung appealed the arbitration decision in September 2006. Interdigital had received the award from an arbitration tribunal of the International Court of Arbitration of the International Chamber of Commerce.