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STOCKHOLM - Neonode Inc. (NASDAQ:NEON), currently valued at $360 million and showing a remarkable 200% return over the past year, announced Wednesday it anticipates receiving between $15 million and $20 million in net proceeds from a settlement between Samsung Electronics and Aequitas Sub, a subsidiary of Aequitas Technologies LLC.
The settlement resolves a patent infringement lawsuit filed in June 2020 in the United States District Court for the Western District of Texas. While Neonode was not directly involved in the litigation, the company is entitled to 50% of net proceeds under a 2019 agreement when it assigned certain patents to Aequitas. According to InvestingPro analysis, Neonode maintains a healthy financial position with a current ratio of 6.5x and operates with minimal debt, though the stock appears overvalued based on Fair Value calculations.
The expected amount factors in deductions for brokerage fees, legal costs, taxes, and other expenses related to the original patent assignment. The company stated it continues to evaluate tax implications that may affect the final sum.
According to Neonode, the court dismissed the case on September 2 following the settlement between Aequitas Sub and Samsung. The company’s board has not yet determined how the proceeds will be used.
A separate patent infringement case brought by Aequitas Sub against Apple Inc. remains pending in the United States District Court for the Northern District of California.
The information was disclosed in a press release issued by Neonode.
In other recent news, Neonode Inc. is set to receive between $15 million and $20 million from a patent lawsuit settlement involving Samsung Electronics. This settlement resolves a lawsuit filed by Neonode Smartphone LLC, a subsidiary of Aequitas Technologies LLC, against Samsung for alleged patent infringement. In addition to this development, Neonode announced its inclusion in the Russell 2000 Index, effective after the U.S. market opens on June 30. This inclusion will also see the company automatically listed in the corresponding growth and value indexes.
Furthermore, at Neonode’s 2025 Annual Meeting of Stockholders, Ulf Rosberg and Peter Kruk were reelected to the Board of Directors for three-year terms. These developments mark significant milestones for the company, both in terms of financial settlements and market recognition. Neonode’s inclusion in the Russell 2000 Index is part of the broader Russell indexes reconstitution for 2025. This inclusion is contingent upon its presence in the Russell 3000® Index.
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