InterDigital Rises 5 percentage After Chinas NDRC Suspends ProbeCraig Dalton (Author) Published Date : Jun 14, 2014 00:15 ET
Shares of InterDigital (IDCC) gained in afternoon trading Thursday after the wireless research and development company said China's National Development and Reform Commission (NDRC) ended its anti-monopoly law investigation on the company. The decision to suspend the probe is based on a pledge made by InterDigital to NDRC on March 3, which guarantees the company will modify its pricing structure.
NDRC noted it will resume the probe if the company does not follow through with its commitment. IDCC shares recently traded at $36.92, up 5% relative to Wednesday's close. The stock has a 52-week trading range of $26.25 to $47.36.
InterDigital Rises 5 percentage After Chinas NDRC Suspends Probe