Paltalk Stock Falls Nearly 16% After Trial Delayed Due to Eclipse

Dow Jones03-22

By Emon Reiser

Shares of Paltalk were down after the communications-software company told investors its litigation trial date was rescheduled to Aug. 26 due to the solar eclipse taking place April 8.

The stock decreased about 16%, to $2.37, during Thursday afternoon trading. Shares are nearly flat year to date.

Jericho, N.Y.-based Paltalk on Thursday said its trial date in its patent-infringement case against WebEx Communications, Cisco WebEx LLC, and Cisco Systems would take four months later than planned because the U.S. District Court for the Western District of Texas, located in Waco, decided not to hold any in-person trials during the week of April 8.

Crowds are anticipated to gather in the city to view the eclipse, the company said.

Write to Emon Reiser at emon.reiser@wsj.com

(END) Dow Jones Newswires

March 21, 2024 15:04 ET (19:04 GMT)

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