ION announces patent litigation settlement with WesternGeco
Ion Geophysical Corporation (IO)
Last ion geophysical corporation earnings: 2/5 04:53 pm
Check Earnings Report
US:NYSE Investor Relations:
investorrelations.i-o.com
Company Research
Source: PR Newswire
HOUSTON, April 9, 2020 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced a settlement of the decade-long patent litigation with WesternGeco regarding lateral streamer positioning. The parties signed an agreement where WesternGeco will permanently dismiss the pending lawsuit, grant ION a license to the patents and lift the injunction preventing ION from manufacturing DigiFIN™ in the United States. In exchange, ION agreed to pay a settlement value to WesternGeco out of future revenues from the company's multi-client data library, comprising 1) a small percent of 2D multi-client late sales for a 10-year period and 2) transferring a majority of ION's revenue share to WesternGeco on the parties' existing joint multi-client reimaging product offshore Mexico. The parties also agreed to expand the existing multi-client collaboration opportunities through new arrangements within specific geographies and product offerings."I am thrilled to put this lawsuit behind us," sa
Show less
Read more
Impact Snapshot
Event Time:
IO
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
IO alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
IO alerts
High impacting Ion Geophysical Corporation news events
Weekly update
A roundup of the hottest topics