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Arista Sags: Q3 ‘Uncertainty’ Rises with ITC Setback, Says Wells Fargo

Shares of Arista Networks (ANET), which has been sued by Cisco Systems (CSCO) on multiple counts of patent infringement in the past couple of years, are down $4.71, or 3%, at $152.10, after the International Trade Commission late yesterday said it would uphold a ban on Arista importing products into the U.S., causing Arista to have to employ a work-around with modified product developed in the U.S.

Cisco shares are up one penny at $31.87.

Arista had sought an “emergency motion” with the ITC for a suspension of an order of “cease and desist,” issued back on May 4th, in what was known as the “ITC 945 Investigation,” after the U.S. Patent and Trademark Office had found two patents of Cisco’s in that case to have been invalid.

Yesterday, the ITC denied Arista’s request. (More background can be found on Arista’s legal update on its legal proceedings Web site.)

Arista said it will appeal, calling the decision “disappointing”:

We are deeply disappointed in the ITC's decision to enforce patent claims that the USPTO has clearly found to be invalid. This represents an unfortunate departure from precedent and from the core premise of the AIA and its inter partes review proceedings. We will be filing an appeal to the Federal Circuit seeking an immediate stay of the remedial orders. In the event that the ITC's decision is sustained, we will also be releasing modified products to ensure the supply of our products to our customers in full compliance with the ITC's orders," said Marc Taxay Senior Vice President, General Counsel.

Among...


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