Amazon target iRobot wins patent ruling in front of ITC
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A favorable patent ruling came in for iRobot Corp. (NASDAQ:IRBT) on Tuesday from the International Trade Commission.
The company announced that Administrative Law Judge Maryann McNamara issued an initial determination in its favor in the patent infringement action against SharkNinja Operating LLC.
The ruling recommended a limited exclusion order in the case on the finding that Shark has infringed valid claims of multiple iRobot asserted patents. The initial determination recommends that the ITC issue an order barring the importation of various infringing SharkNinja robotic cleaning products.
Judge McNamara's initial determination and recommended remedy is now before the ITC Commissioners, with a final determination expected by February 2023.
In August, Amazon (AMZN) agreed to acquire iRobot (IRBT) for $61 per share in an all-cash transaction valued at ~$1.7B, including iRobot's net debt. Shares closed at $55.62 on Tuesday.