Australia's Mach7 Tech rises most in 5-1/2 months on legal win in Delaware

Mach7 Technologies

13/07/2022 05:12

** Shares of Mach7 Technologies Ltd  M7T.AX  rise as much as
16.8% to A$0.66, hitting their highest since May 2
    ** The medical imaging co says it received notice from the
U.S. District Court in Delaware on June 8 that it had granted
co's request to dismiss all claims asserted by U.S. rival AI
Visualize  urn:newsml:reuters.com:*:nASX6l4mSz
    ** Stock posts its biggest intraday percentage gain since
Jan 31
    ** Co says AI Visualize had launched a patent infringement
lawsuit, but the court based its dismissal on a finding that AI
Visualize's patents "were not eligible for patenting"
    ** Says it will continue to defend itself on appeal, if
necessary, and inform the market with any additional information
regarding this legal action
    ** M7T stock down 31.1% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))