Digital Ally, Inc. (NASDAQ: DGLY) is having an incredibly strong start to the trading session this morning, and for good reason. The company has taken a significant victory in an intellectual property case. Of course, this news led to excitement among investors, who sent the stock skyward prompting our partners at Trade Ideas to alert us to the gains. At the moment (9:57), DGLY is trading at $4.48 per share after a gain of $1.32 per share or 42.06% thus far today.
DGLY Skyrockets On Significant Patent Win
As mentioned above, Digital Ally is having an incredibly strong time in the market today after announcing that it has achieved a significant victory with regard to its intillectual property. The company announced that it has claimed victory over Axon Enterprises Inc. (AAXN), formerly known as Taser International.
In their announcement, DGLY said that the USPTO denied Axon’s petition for inter parties review of the company’s patent. The petition simply did not establish reasonable likelihood that Axon would have a leg to stand on. The patent covers the automatic activation and coordination of multiple recording devices when a law enforcement vehicle’s light bar is activated. In a statement, DGLY CEO, Stanton Ross, had the following to offer…
“We look forward to restarting our patent infringement litigation in U.S. District Court against Axon, which had been stayed pending the Patent Office IPRs… We will now take necessary actions to move to a trial where a jury can finally end Axon’s willful infringement and assess damage due to us.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DGLY. In particular, we’ll be following the patent infringement case as it unfolds. Of course, with today’s news, it seems like this is going to be a hands down win for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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