HCMC has filed a Lawsuit against Phillip Morris (PM) on patent infringement on their 170-patent which is the patent that HCMC holds on its electric devices, heating coils, delivery systems and more. They allege that in some way shape or form Phillip Morris (NYSE: PM) uses their 170-patent technology on their IQOS product.
Philip Morris is trying to get rid of the vaping lawsuit filed against it. Below is what you need to know: Healthier choice Management Corps (HCMC) is a popular penny that has caught the attention of fans of subreddit investments. However, the news was not great for HCMC on February 26 when it fell by 25% and continued to fall more this week. Let’s see what led to the collapse.
About Healthier Choices Management Corp
First of all, Healthier Choices is a Florida-based company that specializes in solutions to help people live healthier lives. These solutions include vitamins and supplements, health and beauty products, and organic grocery stores. However, HCMC shares represent e-cigarette and e-cigarette operations. For companies, these e-cigarettes are a healthier alternative to tobacco products. They also indicate an important reason for your interest in penny stocks.
Healthier Choice & Philip Morris
White Investor member William White said in January 2021 that HCMC shares were attracting investors due to an ongoing lawsuit. In November 2020, Healthier Choices filed for patent infringement against Philip Morris (NYSE: PM). The lawsuit is based on Healthier Options’ allegations that Phillip Morris’ IQOS product violated his e-tube patent. The Healthier Options patent recognizes tubes that use battery powered tubes, electronic modules, fuel tanks, and a method of burning breathing material using heating elements.
Many investors are looking to Phillip Morris and Healthier Choices to settle the lawsuit in a way that will benefit small businesses. However, the new filing application makes HCMC face south.
Defendants Response to Allegations
It seems that Philip Morris wants to withdraw the lawsuit rather than go for consensus. The company filed for dismissal in the U.S. district court in northern Georgia’s Atlantic state. In this initiative, Phillip Morris says there is no ground for Healthier Choices Management Corp to file a patent claim.