Nokia Accuses Reddit Of Patent Violation

(RTTNews) - Reddit announced on Tuesday that Nokia Corp. (NOK) has accused the social discussion forum of patent infringement.

However, Reddit denied the accusations by stating that, "As we face increasing competition and become increasingly high profile, the possibility of receiving more intellectual property claims against us grows."

The announcement follows an inquiry by the Federal Trade Commission into Reddit's practices regarding the sale, licensing and sharing of user-generated content with third parties for the purpose of training of artificial intelligence models.

Currently, Nokia's stock is climbing 0.97 percent, to $3.51 on the New York Stock Exchange.