Mobileiron Inc (NASDAQ:MOBL), the leader in mobile enterprise security, today announced a very favorable jury verdict in its patent case with Good Technology.
- Upheld MobileIron’s Enterprise App Store patent, U.S. Patent No. 8,359,016, as valid;
- Held that two of Good Technology’s patents are invalid;
- Held that MobileIron’s products do not infringe any of the Good Technology patents in the case;
- Rejected Good Technology’s Lanham Act claim for false advertising; and
- Awarded no damages to either side.
“We are pleased that the jury recognized our focus on innovation in enterprise mobility,” said Bob Tinker, CEO of MobileIron. “Good Technologystarted this litigation over two years ago in 2012, and we are glad to now have this verdict validating our enterprise app store and affirming our position that we did not infringe any of their patents.”
Three of Good Technology’s Patents Invalidated – one by court and two by jury
In a summary judgment order shortly before the trial commenced, the court invalidated Good Technology’s Patent No. 6,151,606, which Good has said covers a workspace data manager to synchronize data on a smartphone. This patent was the centerpiece of past Good/Visto lawsuits against Microsoft, BlackBerry (formerly Research in Motion), and others. In trial, the jury further held that two additional Good Technology patents were invalid as obvious: Good Technology’s Patent No. 8,012,219 covering a technique of selective wipe, and Patent No. 7,970,386 focusing on certain device monitoring technologies. None of these three patents can now be asserted against any other vendor, pending appeal.
Finally, the jury also rejected Good Technology’s Lanham Act claim that certain communications from a MobileIron salesperson contained false or misleading statements about Good’s products, holding instead that the statements in question were not false or misleading.
On Good Technology’s one patent that survived invalidation by the jury, Patent No. 7,702,322 which covers a particular implementation of software distribution, the jury found that MobileIron’s products did not infringe. The jury also held that MobileIron’s products did not infringe the two Good Technology patents that it invalidated. In addition, Good’s product was held not to infringe MobileIron’s patent.
Good Technology and MobileIron have ongoing patent litigation in other cases in which the companies are alleging patent infringement against each other, as well as inter partes review proceedings against each other’s patents.
MobileIron was represented by Orrick, Herrington & Sutcliffe, including Neel Chatterjee, Vickie Feeman, Lillian Mao, Glen Liu, Will Melehani andFrances Cheever.
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the possible outcome of litigation. MobileIron does not assume any obligation to update these forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made. Additional information on potential risks and factors that could affect MobileIron’s business and financial condition and results are set forth in our SEC filings, including our reports on Forms 10-K, 10-Q and 8-K. (Original Source)
Shares of Mobile Iron closed yesterday at $5.16. MOBL has a 1-year high of $12.96 and a 1-year low of $4.82. The stock’s 50-day moving average is $5.85 and its 200-day moving average is $7.45.
On the ratings front, Mobile Iron has been the subject of a number of recent research reports. In a report issued on July 31, RBC analyst Mark Sue reiterated a Buy rating on MOBL, with a price target of $8, which represents a potential upside of 55.0% from where the stock is currently trading. Separately, on July 30, Deutsche Bank’s Karl Keirstead downgraded the stock to Hold and has a price target of $6.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Sue and Karl Keirstead have a total average return of 5.0% and 11.1% respectively. Sue has a success rate of 57.4% and is ranked #932 out of 3724 analysts, while Keirstead has a success rate of 64.3% and is ranked #417.
MobileIron Inc provides mobile IT platform for enterprises to secure and manage mobile applications, content and devices.