Fitbit (FIT) Wins Key Verdict in Patent Infringement Case

Fitbit Inc. (NYSE: FIT) shares are lower Friday afternoon amid news that the company won a key lawsuit.

According to Bloomberg, the last of Jawbone's patent infringement claims against Fitbit were invalidated Thursday.

Fitbit isn't free and clear yet; the U.S. International Trade Commission may allow Jawbone to pursue claims against Fitbit that it stole industry trade secrets.

However, the recent determination eases the possibility of an import ban on Fitbit's wares.

Jawbone is planning to appeal the ruling.

Shares of Fitbit are off by 1.2 percent today.

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