Cerence Inc. has filed a lawsuit against Microsoft and Nuance for copyright infringement related to its text-to-speech technology.
Quiver AI Summary
Cerence Inc. has filed a copyright infringement and breach of contract lawsuit against Microsoft and Nuance Communications in the U.S. District Court for Delaware, focusing on Cerence's text-to-speech technology, which is vital to its product offerings in automotive and other sectors. Jennifer Salinas, Cerence’s Chief Administrative Officer, emphasized the company’s commitment to safeguarding its intellectual property rights amidst its expansion beyond automotive markets. Cerence, a leader in AI-powered user experiences, aims to protect its innovative technology and investments through this legal action. The press release also discusses the company's extensive history of innovation and its role in enhancing user experiences in over 500 million vehicles worldwide.
Potential Positives
- Cerence AI is taking a proactive legal stance to protect its intellectual property rights, demonstrating its commitment to safeguarding its innovations in text-to-speech technology.
- The lawsuit against Microsoft and Nuance Communications highlights Cerence AI's confidence in its strong intellectual property portfolio, which could enhance its reputation as an industry leader in conversational AI.
- This legal action may deter potential infringers and strengthen Cerence AI’s market position as it expands to new markets beyond automotive.
Potential Negatives
- The lawsuit against Microsoft and Nuance Communications could indicate vulnerabilities in Cerence AI's intellectual property protections, potentially undermining investor confidence.
- The litigation may divert resources and focus away from Cerence AI's core operations and innovation efforts, potentially impacting business performance.
- The negative publicity associated with a high-profile lawsuit could harm Cerence AI's reputation and relationships within the industry, affecting partnerships and collaborations.
FAQ
What lawsuit did Cerence AI file against Microsoft and Nuance?
Cerence AI filed a copyright infringement and breach of contract lawsuit in the U.S. District Court for Delaware.
What technology is at the center of the lawsuit?
The lawsuit specifically concerns Cerence AI's text-to-speech technology, a key part of its product portfolio.
Why is Cerence AI pursuing this lawsuit?
Cerence AI aims to protect its intellectual property rights and investments against infringement as it expands into new markets.
How many cars use Cerence technology?
More than 500 million cars have been shipped with Cerence technology, contributing to advanced user experiences.
Where is Cerence Inc. headquartered?
Cerence Inc. is headquartered in Burlington, Massachusetts, and operates globally to drive AI innovation.
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 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $CRNC stock by insiders over the last 6 months:
- JENNIFER SALINAS (EVP Chief Admin Officer) has made 0 purchases and 2 sales selling 37,356 shares for an estimated $254,011.
- THOMAS L BEAUDOIN has made 0 purchases and 4 sales selling 27,088 shares for an estimated $222,254.
- CHRISTIAN MENTZ (EVP, Chief Revenue Officer) sold 3,600 shares for an estimated $53,028
- KATHERINE ROMAN (VP Corporate Controller) sold 635 shares for an estimated $4,578
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CRNC Hedge Fund Activity
We have seen 82 institutional investors add shares of $CRNC stock to their portfolio, and 82 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JACOBS LEVY EQUITY MANAGEMENT, INC removed 823,428 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,463,909
- D. E. SHAW & CO., INC. added 814,896 shares (+77.7%) to their portfolio in Q4 2024, for an estimated $6,396,933
- SG AMERICAS SECURITIES, LLC added 490,056 shares (+inf%) to their portfolio in Q1 2025, for an estimated $3,871,442
- AMERICAN CAPITAL MANAGEMENT INC removed 430,936 shares (-11.0%) from their portfolio in Q4 2024, for an estimated $3,382,847
- CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. added 425,187 shares (+114.6%) to their portfolio in Q4 2024, for an estimated $3,337,717
- JANE STREET GROUP, LLC removed 425,131 shares (-56.5%) from their portfolio in Q4 2024, for an estimated $3,337,278
- QUBE RESEARCH & TECHNOLOGIES LTD removed 365,018 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $2,865,391
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Full Release
BURLINGTON, Mass., May 06, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced the filing of a copyright infringement and breach of contract lawsuit against Microsoft and Nuance Communications in the United States District Court for the District of Delaware.
Cerence AI and its predecessors have an extensive history of industry-leading innovation and technological achievement. This has resulted in a strong intellectual property portfolio, which the company intends to protect through strategic, continued IP protection efforts. The lawsuit is specific to Cerence AI’s text-to-speech technology, a foundational component of the company’s product portfolio and its work with both automakers and transportation OEMs, as well as outside of automotive.
“At Cerence AI, we are deeply committed to having our intellectual property rights respected and enforced, especially as we continue to expand to new markets beyond automotive,” said Jennifer Salinas, Chief Administrative Officer & General Counsel, Cerence AI. “We believe in the strength of our intellectual property portfolio and plan to vigorously defend our intellectual property rights against infringers. This action against Microsoft and Nuance is necessary to protect our investments, as well as our deep history and culture of innovation.”
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 500 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
Kate Hickman | Tel: 339-215-4583 | Email: [email protected]