SAN FRANCISCO — Acacia Research Corp. saw its valuation hammered by 18 percent Wednesday morning after U.S. Magistrate Judge Paul Grewal dismissed a patent infringement action brought by its subsidiary Adaptix Inc. against Apple Inc., HTC, Verizon Wireless and AT&T Mobility LLC.
One of the country’s largest publicly traded nonpracticing entities, Acacia paid $160 million to acquire Adaptix and its patents on 4G technology in 2012. CEO Matt Vella held an impromptu investor call Wednesday morning to emphasize that Grewal’s ruling affects only a small portion of the Adaptix portfolio, and that the company has already obtained a new patent that will help it avoid the “technicality” that Apple and Grewal relied on.
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