Cerence Inc. has filed complaints against Sony and TCL for alleged patent infringement involving voice technology in smart TVs.
Quiver AI Summary
Cerence Inc., a leader in conversational AI, has initiated legal action against Sony Group Corporation and TCL Technology Group Corporation by filing a complaint with the U.S. International Trade Commission to prevent the importation of products that violate Cerence's intellectual property rights. Additionally, Cerence has filed lawsuits in the U.S. District Court for the Eastern District of Texas seeking damages for infringement of its voice technology patents. The company aims to secure a limited exclusion order to stop the import of certain smart televisions that infringe on their patents. Cerence emphasizes the importance of protecting its intellectual property as a crucial strategic goal and has a robust portfolio built on innovation.
Potential Positives
- Cerence Inc. is taking a proactive stance to protect its intellectual property rights by filing complaints against Sony and TCL for infringement, demonstrating its commitment to safeguarding its technology.
- The company’s strong portfolio of patented technologies highlights its ongoing innovation in the AI-powered user experience sector, reinforcing its position as a leader in the industry.
- The legal actions could potentially prevent the importation of infringing products, which may positively impact Cerence's market share and competitive advantage.
Potential Negatives
- The company is engaging in litigation against industry giants, which may divert resources and focus from its core business operations.
- The outcome of the legal actions is uncertain, creating potential volatility and risk for investors regarding future performance and IP enforcement.
- Ongoing legal disputes may negatively impact Cerence's reputation in the market and relationships with partners and customers.
FAQ
What is the nature of Cerence AI's complaint?
Cerence AI has filed a complaint against Sony and TCL for infringing upon its voice technology patents.
Where was the complaint filed?
The complaint was filed with the United States International Trade Commission (ITC) and the Eastern District of Texas.
What action is Cerence seeking from the ITC?
Cerence is seeking a limited exclusion order to block the importation of infringing smart televisions into the U.S.
Why does Cerence consider IP enforcement important?
Cerence views IP enforcement as a strategic imperative to protect its technology, customers, and investments.
How can I learn more about Cerence AI?
You can visit Cerence AI's website at www.cerence.ai or follow the company on LinkedIn for more information.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CRNC Insider Trading Activity
$CRNC insiders have traded $CRNC stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $CRNC stock by insiders over the last 6 months:
- THOMAS L BEAUDOIN sold 5,000 shares for an estimated $58,400
- CHRISTIAN MENTZ (EVP, Chief Revenue Officer) sold 3,600 shares for an estimated $53,028
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CRNC Hedge Fund Activity
We have seen 83 institutional investors add shares of $CRNC stock to their portfolio, and 89 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- COOPER CREEK PARTNERS MANAGEMENT LLC removed 1,951,020 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $15,413,058
- NO STREET GP LP added 1,500,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $11,850,000
- MILLENNIUM MANAGEMENT LLC added 1,101,854 shares (+373.6%) to their portfolio in Q1 2025, for an estimated $8,704,646
- AMERIPRISE FINANCIAL INC removed 1,062,337 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $8,392,462
- MARSHALL WACE, LLP added 714,741 shares (+547.1%) to their portfolio in Q1 2025, for an estimated $5,646,453
- D. E. SHAW & CO., INC. removed 682,595 shares (-36.6%) from their portfolio in Q1 2025, for an estimated $5,392,500
- BANK OF AMERICA CORP /DE/ removed 575,333 shares (-91.8%) from their portfolio in Q1 2025, for an estimated $4,545,130
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CRNC Analyst Ratings
Wall Street analysts have issued reports on $CRNC in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Needham issued a "Buy" rating on 03/18/2025
To track analyst ratings and price targets for $CRNC, check out Quiver Quantitative's $CRNC forecast page.
$CRNC Price Targets
Multiple analysts have issued price targets for $CRNC recently. We have seen 4 analysts offer price targets for $CRNC in the last 6 months, with a median target of $9.5.
Here are some recent targets:
- Mark Delaney from Goldman Sachs set a target price of $9.0 on 05/09/2025
- Colin Langan from Wells Fargo set a target price of $10.0 on 05/08/2025
- Quinn Bolton from Needham set a target price of $16.0 on 03/18/2025
- Chris McNally from Evercore ISI Group set a target price of $9.0 on 02/18/2025
Full Release
BURLINGTON, Mass., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced that it has filed a complaint with the United States International Trade Commission (ITC) against Sony Group Corporation and TCL Technology Group Corporation to block the importation of products that infringe on Cerence’s intellectual property (IP). The company also filed district court actions against both parties in the United States District Court for the Eastern District of Texas seeking damages for such infringement.
The ITC complaint, filed under Section 337 of the Tariff Act of 1930, requests a limited exclusion order prohibiting the importation into the United States of certain smart televisions that infringe on Cerence AI’s voice technology patents.
Cerence AI has built a strong portfolio of patented technologies through sustained innovation and technical excellence, and the company will take all necessary legal measures to protect its IP from misuse or infringement.
“We will take strong, decisive action to protect our IP rights and prevent the unauthorized use of our technology,” said Jennifer Salinas, Chief Administrative Officer & General Counsel, Cerence AI. “We view IP enforcement as a strategic imperative to protect our technology, our customers, and our investments.”
To learn more about Cerence AI, visit www.cerence.ai , and follow the company on LinkedIn .
About Cerence Inc.
Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 525 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit
www.cerence.ai
.
Forward Looking Statements
Statements in this press release regarding: Cerence’s expectations, anticipations, intentions, beliefs or strategies constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “goal,” “anticipates,” “projects,” “forecasts,” “expects,” “intends,” “continues,” “will,” “may,” or “estimates” or similar expressions) should also be considered to be forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risk, uncertainties and other factors, which may cause actual results or performance of the company to be materially different from any future results or performance expressed or implied by such forward-looking statements including but not limited to: there can be no assurance as to developments related to the litigation, the outcome of the litigation, or remedies that could be awarded in connection with the litigation; our ability to establish or maintain our intellectual property and other proprietary rights; IP, or legal strategies; and the other factors discussed in our most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. We disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
Contact Information
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