The stock of Engine Media Holdings Inc. (GAME) was trading at $13.99 in after-hours, up 26.04%. Engine Media stock closed Wednesday’s session down -5.45% at $11.10. A total of 0.55 million shares exchanged hands in the GAME stock during the session, an increase over its average daily volume of 0.2 million shares. In the last 12 months, the shares of GAME have risen 17.46%, and in the last week, they have decreased by -9.31%.

The GAME stock price has gone up by 3.64% while going down by 35.20% over the last six months. In addition, GAME’s market capitalization is currently $154.86 million and there are 13.95 million outstanding shares. Following the filing of a patent infringement lawsuit, GAME stock rose.

Who was sued by GAME?

Engine Media is dedicated to providing first-class esports, news, and gaming experiences to its partners. GAME’s subsidiaries include Stream Hatchet, Eden Games, WinView Games, UMG, and Frankly Media. Streaming and data-based offerings; programmatic advertising and sponsorships generate revenue for GAME through direct-to-consumer marketing and subscriptions.

Engine Winview Inc., a subsidiary of Engine Media, has filed a lawsuit against DraftKings Inc., in the United States District Court for the District of New Jersey, announced GAME in press release yesterday.

• Several patents owned by Winview are the subject of the lawsuit.
• Morgan Chu of Irell & Manella, LLP and Thomas R. Curtin of McElroy, Deutsch, Mulvaney & Carpenter, LLP are representing GAME in this matter.
• The lawsuit alleges that various gaming services provided by DraftKings infringe Winview’s United States Patent No. 10,721,543 and United States Patent No. 9,878,243.
• Patent No. 10,721,543 or the “’543 Patent” entitled “Method Of and System For Managing Client Resources and Assets for Activities On Computing Devices.”
• Patent No. 9,878,243 or the “‘243 Patent” entitled “Methodology for Equalizing Systemic Latencies in Television Reception in Connection with Games of Skill Played in Connection with Live Television Programming”.
• A damages action is filed in this case seeking other appropriate relief as well.
• A primary operating unit at GAME, Winview offers skill-based cash games as part of a viewing experience for traditional sports as well as esports.
• Further, Engine Media (GAME)’s Winview operates a portfolio of 80 issued US patents, many of which are related to mobile and online sports betting.

Engine Media (GAME) also announced Tom Rogers, the GAME’s Chairman, and Lou Schwartz, its CEO, will ring the Nasdaq Closing Bell. Executives from GAME will ring the bell today at 3:45 p.m. ET. Engine Media (GAME) will ring the bell to celebrate its Nasdaq listing earlier this month.