Welcome to our dedicated page for Immersion news (Ticker: IMMR), a resource for investors and traders seeking the latest updates and insights on Immersion stock.
Immersion Corporation reports developments tied to its haptics technology business, financial reporting status, and public-company governance. The company provides touch feedback technology for mobile, automotive, gaming, and consumer electronics, with a licensing model tied to haptic software, royalties, license fees, and related development services. Its updates also reflect the completed acquisition of a controlling interest in Barnes & Noble Education, whose bookstore, wholesale, and inventory-management operations are included in Immersion's consolidated reporting.
Recurring announcements cover Nasdaq filing-compliance notices, delayed Form 10-K and Form 10-Q reporting, restatement-related financial reporting matters, quarterly results, capital returns through dividends and buybacks, shareholder rights-plan activity, and shareholder cooperation agreements.
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Turtle Beach Corporation (Nasdaq: HEAR) disclosed its ongoing disputes with Immersion Corporation (Nasdaq: IMMR) regarding board nominations and governance. Despite multiple counterproposals aimed at avoiding a costly proxy contest, Immersion rejected Turtle Beach's offers, including the appointment of two of its nominees to the board and the formation of a Value Enhancement Committee.
The board's recent refresh resulted in a 4-year average tenure, with 9 experienced directors overseeing the company. Turtle Beach emphasized its commitment to shareholder interests, contrasting its collaborative approach with Immersion's antagonistic stance, which has been described as wasting shareholder capital. The company remains open to further engagement as it prioritizes operational oversight and shareholder value creation.
Immersion Corporation (NASDAQ: IMMR) has signed a multi-year licensing agreement with Motrex Co., Ltd., an automotive solutions provider. This partnership aims to integrate Immersion's haptic technology into Motrex's automotive products, enhancing in-vehicle interfaces across various applications. According to Immersion's executives, the automotive industry increasingly adopts haptic technology, benefiting functionalities like infotainment and climate control. Immersion is set to report its Q1 2023 financial results on May 10, 2023.
Immersion Corporation (NASDAQ: IMMR) has initiated patent infringement lawsuits against various Xiaomi Group companies in Germany, France, and India. The lawsuits, filed in Düsseldorf Regional Court, Paris First Instance Civil Court, and the High Court of Delhi, allege that Xiaomi's smartphones, including the Xiaomi 12, violate Immersion's patents related to haptic technology. Immersion seeks injunctions to prevent Xiaomi from selling these devices in the mentioned countries, along with damages for the infringement. CEO Eric Singer emphasized the importance of protecting their intellectual property after years of innovation in haptic technology.