RE:RE:RE:RE:Fed. Circ. Groans At Idea Of 3rd Apple-WiLan Patent Trial The judges had a very strong command of the issues. And as the chief judge said, these issues are narrow.
I expect this to be communicated within 2-3 months.
The beauty of this situation is that the stock price already assumes a loss. I don't think Quarterhill feels the same pressure to settle this. You can already see it in their corporate presentation to investors. The stock is priced at ITS and cash. And in fact the ITS segment trades at a multiple of 5X below REKR and ITI. And 10X below the ITS companies that were purchased.
This is also on a fully contingency basis with McKool Smith. So there are no incremental costs for WiLan other than paying Lamken's fees for appeals. Those are about $1M per appeal.
Even if there is a retrial on damages, they will get the Intel chips included.
Again, this is an ASYMMETRIC situation. Limited downside and the upside is manifold the current stock price. Good risk / reward in my opinion.