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What: Shares of OLED specialist Universal Display (Nasdaq: PANL) are having a dark day today, down by as much as 11%, on fears that parts of some of its Japanese patents have been invalidated.

So what: The company filed an 8-K today with an update related to invalidation trials in Japan concerning two patents. There are two patents in question, referred to as JP '929 and JP '024. The Japanese Patent Office, or JPO, has acknowledged the validity of certain parts within both patents, while invalidating "the broadest claims" within both patents.

Now what: The Japanese High Court has backed the JPO's decision regarding the JP '929 patent. The company believes that both decisions are erroneous and intends to appeal the decision. UDC is waiting to receive translated copies of the JPO's decision on the JP '929 patent before proceeding with an appeal with the Japanese Supreme Court. UDC also said it does not believe the decisions will have a material adverse impact on its business.

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Fool contributor Evan Niu owns shares of Universal Display, but he holds no other position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Universal Display. Motley Fool newsletter services have recommended buying shares of Universal Display. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.