01 Communique soars on LogMeIn patent litigation news

Shares of 01 Communique (TSX:ONE) are racing today after being halted pending news.

After the brief halt, 01 announced it had received an order from the United States Court of Appeals for the Federal Circuit regarding the company’s appeal in its patent litigation against LogMeIn Inc. remanding the case back to the district court for trial.

The company says the order sided with 01 Communique and provides a claim construction in accord with the construction it offered.

In April of last year, a judge ruled that the Mississauga company’s case against LogMeIn (NASDAQ:LOGM) would not go to trial. 01 appealed, and on February 6th of the this year a hearing was held in that appeal.

Today’s news follows early June’s announcement that 01 Communique entered into a settlement and patent license agreement with Bomgar Corp., which settled all litigation among the parties and provides Bomgar with a license to several of 01 Communique’s U.S. patents. The case was the win for Gladios IP, a division of Ottawa’s Wi-LAN that works with other companies to try and unlock the value of their patents.

Mississagua’s 01 Communique was founded 1992, when it released a a fax program called 01 Fax. 01 began developing remote access software in the late 1990′s, and filed for patents related to this technologies in 2000. 01 Communique was subsequently granted two patents in August, 2005.

At press time, shares of 01 Communique were up 63.5% to $1.39.