Paltalk wins $65.7M jury verdict in patent case against Cisco Systems

Communications software developer Paltalk (NASDAQ:PALT) has been awarded $65.7M in a jury verdict against Cisco Systems (NASDAQ:CSCO) related to a patent infringement lawsuit.

In 2021, Paltalk Holdings, a wholly owned subsidiary of the company, filed a patent infringement lawsuit against Cisco (CSCO), claiming that some of Cisco’s products infringed its U.S. Patent No. 6,683,858 for “Hybrid server architecture for mixing and non-mixing client conferencing.”

The patent relates to a “system, method and computer program product which allows both mixing (e.g., PC-based) and non-mixing (e.g., phone-based) clients to participate in a single audio conference.”

The U.S. District Court for the Western District of Texas awarded the company $65.7M in a jury verdict in connection with the lawsuit.

The case remains subject to post-trial proceedings, including any potential appellate proceedings by Cisco (CSCO), and the entry of a final judgment by the court.

Shares of Paltalk (PALT) fell around 37% premarket on Friday.