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Stock impact report

U.S. to probe Fitbit, Garmin, other wearable devices after Philips complains [Yahoo! Finance News]

Fitbit, Inc (FIT)  More Company Research Source: Yahoo! Finance News
NASDAQ:AMEX Investor Relations: investor.fitbit.com/overview/default.aspx
PDF WASHINGTON Reuters) - U.S. trade regulators said on Friday they will investigate wearable monitoring devices, including those made by Fitbit Inc and Garmin Ltd , following allegations of patent violations by rival Koninklijke Philips and its North America unit. The U.S. International Trade Commission, in a statement, said the probe would also look at devices by made by California-based Ingram Micro Inc as well as China-based Maintek Computer Co Ltd and Inventec Appliances. Netherlands-based Philips and Philips North America LLC, in their complaint, are calling for tariffs or an import ban and allege the other companies have infringed on Philips' patents or otherwise misappropriated its intellectual property. "We believe these claims are without merit and a result of Philips' failure to succeed in the wearables market," Fitbit said in response to a request for comment, adding that it would defend itself vigorously against all allegations made in the complaint to the ITC. Wearable act [Read more]
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