Akoustis Technologies Files for Bankruptcy After Qorvo Verdict

Dow Jones12-16

By Colin Kellaher

Akoustis Technologies has filed for chapter 11 bankruptcy with plans to sell its assets after the maker of radio-frequency filter products was ordered to pay nearly $60 million in a patent suit brought by Qorvo.

Akoustis on Monday said the move, which follows a total judgement of about $59 million in damages, fees and interest related to allegations of trade secret misappropriation and patent infringement, is aimed at ensuring its business is sold free and clear of any Qorvo infringement.

Akoustis said Gordon Brothers Commercial & Industrial has agreed to serve as the stalking horse, or lead, bidder for some of its assets in a court-supervised auction, adding that it plans to use the process to pursue the sale of its other assets.

Shares of Akoustis closed Friday at 6.8 cents, giving the Huntersville, N.C., company a market capitalization of roughly $10.5 million.

In premarket trading Monday, Akoustis shares were recently down 38% to 4.3 cents. Shareholders are generally wiped out in bankruptcy cases.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 16, 2024 06:07 ET (11:07 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2491666059?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-16 19:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2491666059","market":"other","top_or_hot":-1,"title":"Akoustis Technologies Files for Bankruptcy After Qorvo Verdict","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Akoustis Technologies has filed for chapter 11 bankruptcy with plans to sell its assets after the maker of radio-frequency filter products was ordered to pay nearly $60 million in a patent suit brought by Qorvo. \n</p>\n<p>\n  Akoustis on Monday said the move, which follows a total judgement of about $59 million in damages, fees and interest related to allegations of trade secret misappropriation and patent infringement, is aimed at ensuring its business is sold free and clear of any Qorvo infringement. \n</p>\n<p>\n  Akoustis said Gordon Brothers Commercial &amp; Industrial has agreed to serve as the stalking horse, or lead, bidder for some of its assets in a court-supervised auction, adding that it plans to use the process to pursue the sale of its other assets. \n</p>\n<p>\n  Shares of Akoustis closed Friday at 6.8 cents, giving the Huntersville, N<a href=\"https://laohu8.com/S/02403\">.C</a>., company a market capitalization of roughly $10.5 million. \n</p>\n<p>\n  In premarket trading Monday, Akoustis shares were recently down 38% to 4.3 cents. Shareholders are generally wiped out in bankruptcy cases. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 06:07 ET (11:07 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Akoustis Technologies Files for Bankruptcy After Qorvo Verdict</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAkoustis Technologies Files for Bankruptcy After Qorvo Verdict\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-16 19:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Colin Kellaher \n\n\n \n\n\n  Akoustis Technologies has filed for chapter 11 bankruptcy with plans to sell its assets after the maker of radio-frequency filter products was ordered to pay nearly $60 ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2491666059","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491666059","pubTimestamp":1734347220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Akoustis Technologies has filed for chapter 11 bankruptcy with plans to sell its assets after the maker of radio-frequency filter products was ordered to pay nearly $60 million in a patent suit brought by Qorvo.Akoustis on Monday said the move, which follows a total judgement of about $59 million in damages, fees and interest related to allegations of trade secret misappropriation and patent infringement, is aimed at ensuring its business is sold free and clear of any Qorvo infringement.Akoustis said Gordon Brothers Commercial & Industrial has agreed to serve as the stalking horse, or lead, bidder for some of its assets in a court-supervised auction, adding that it plans to use the process to pursue the sale of its other assets.Shares of Akoustis closed Friday at 6.8 cents, giving the Huntersville, N.C., company a market capitalization of roughly $10.5 million.In premarket trading Monday, Akoustis shares were recently down 38% to 4.3 cents. Shareholders are generally wiped out in bankr","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","AKTS":"Akoustis Technologies Inc","BK4588":"碎股","BK4512":"苹果概念","BK4141":"半导体产品","BK4515":"5G概念","QRVO":"Qorvo, Inc.","BK4148":"电子元件"},"translate_title":"Qorvo判决后Akoustis Technologies申请破产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QRVO":1,"AKTS":0.9},"content_text":"By Colin Kellaher \n\n\n \n\n\n  Akoustis Technologies has filed for chapter 11 bankruptcy with plans to sell its assets after the maker of radio-frequency filter products was ordered to pay nearly $60 million in a patent suit brought by Qorvo. \n\n\n  Akoustis on Monday said the move, which follows a total judgement of about $59 million in damages, fees and interest related to allegations of trade secret misappropriation and patent infringement, is aimed at ensuring its business is sold free and clear of any Qorvo infringement. \n\n\n  Akoustis said Gordon Brothers Commercial & Industrial has agreed to serve as the stalking horse, or lead, bidder for some of its assets in a court-supervised auction, adding that it plans to use the process to pursue the sale of its other assets. \n\n\n  Shares of Akoustis closed Friday at 6.8 cents, giving the Huntersville, N.C., company a market capitalization of roughly $10.5 million. \n\n\n  In premarket trading Monday, Akoustis shares were recently down 38% to 4.3 cents. Shareholders are generally wiped out in bankruptcy cases. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2024 06:07 ET (11:07 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491666059"}