FlexShopper Shares Rise After it Files Patent Infringement Suits Against Upbound, Katapult

MT Newswires Live10-01

FlexShopper (FPAY) shares rose by more than 7% in recent Tuesday trading after the company said it has filed patent infringement lawsuits against Upbound Group (UPBD) and Katapult Holdings (KPLT) alleging unauthorized use of its technologies.

FlexShopper said it hired law firm Quinn Emanuel Urquhart & Sullivan to represent the company in the suits, which were filed in the US District Court for the Eastern District of Texas.

The cases are related to five patents that cover FlexShopper's lease-to-own technology, FlexShopper said, adding it's seeking injunctive relief to prevent further alleged infringement as well as monetary damages.

Upbound and Katapult didn't immediately respond to requests for comment by MT Newswires.

Price: 1.12, Change: +0.09, Percent Change: +8.25

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