Paltalk (PALT) said Friday its subsidiary Paltalk Holdings was awarded $65.7 million in a patent infringement case against Cisco Systems.
The lawsuit, filed in the US District Court for the Western District of Texas in July 2021, alleged that certain Cisco products infringed on U.S. Patent No. 6,683,858.
The award remains subject to post-trial proceedings, including potential appeals by Cisco, and the final judgment by the court.
Paltalk said it will receive around one-third of the gross proceeds after deducting litigation expenses, including legal fees.
Cisco did not immediately respond to requests for comment from MT Newswires.
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