In recent times, the Healthier Choices Management Corp (OTCMKTS:HCMC) stock has moved in a range and the reason behind that could be related to the developments with regards to its patent infringement lawsuit against tobacco giant Phillip Morris.
Back on July 23, it emerged that Phillip Morris and Phillip Morris Products’ motion for the dismissal of the patent infringement lawsuit was dismissed by the District Court for the Northern District of Georgia. It goes without saying that it was a setback for Healthier Choices Management Corp and on the day the stock suffered from a selloff as well. However, investors need to take a look at some other aspects of the action from the court as well.
The court stated that Healthier Choices Management Corp had fourteen days within which it could file an amended lawsuit for the same. More importantly, the company did convey that it was going to file such a complaint within the deadline.
It should be noted that there had been feverish speculation about the patent infringement lawsuit among investors in the past months and that had brought the Healthier Choices Management Corp stock into sharp focus as well. It now remains to be seen if there is any new trigger that might move the stock either way.