Finjan Holdings, Inc. (NASDAQ: FNJN)
Finjan a globally recognized leader in cybersecurity, received a positive ruling today from a jury in their patent case against Blue Coat Systems Inc. The jury found that 5 of 6 Finjan’s patents were infringed upon by Blue Coat Systems. The jury awarded a sum of nearly 40 million dollars in damages as a reasonable amount of royalties for Blue Coat’s Infringement. This may not be the end for Finjan in the courtroom as they have also filed a second lawsuit against Blue Coat Systems for infringing on seven more of their patents. Finjan also has infringement lawsuits against five other companies on over 20 of their patents. Market Wired
Finjan Holdings Chief Intellectual Property Officer
“We are both grateful and gratified with the jury’s verdict,” said Julie Mar-Spinola, Finjan’s Chief Intellectual Property Officer and VP, Legal. “As we have stated in our earlier Litigation Updates, we are committed to our licensing best practices and will present our patent infringement claims credibly and convincingly to establish the merits of our case, in and outside of the courtroom. Additionally, we were confident in the merits of our patent claims against Blue Coat. It is significant that the jury unanimously agreed with us on all but one.” Market Wired
FNJN gapped up in price today to $2.51 up from yesterday’s close of $1.61 which is a 56% increase in price based on favorable news. Taking a look at the daily chart we can see the last time the stock has been at this price level was on March 24 when it reached highs of $2.82 and closed at $2.40. Since then the stock tanked and traded below the $1.50 level until the spike up today. The stock has a very low float of 6.62 million shares which makes it a prime target for the gap and go strategy. For trading purposes I would use the pre market highs of $2.74 as an entry price looking for a possible run to 3.25 which was the highs reached back on Feb12 of this year. My stop price would be $2.50 which is today’s opening price fearing if it falls below that price it might fill in the gap.
Finjan Holdings, Inc., through its subsidiary, Finjan, Inc., invests in, and develops Web and network cybersecurity technology. The company owns a portfolio of patents related to software and hardware technologies that proactively detect malicious code and thereby protects end-users from identity and data theft, spyware, malware, phishing, trojans, and other Web and network threats. Its patented technologies are used in specific technology areas, including endpoint/cloud software, Web gateway/Internet infrastructure, and networking equipment markets. The companys technology allows users to scan and repel the latest and unknown threats to network, Web, and endpoint security on a real-time basis. Finjan Holdings, Inc. was founded in 1997 and is headquartered in East Palo Alto, California. Yahoo Finance