ASX 200 drops, Nearmap plunges, Appen declines on Thursday 6 May 2021

The S&P/ASX 200 Index (ASX: XJO) dropped by around 0.5% today to 7,062 points.

Here are some of the highlights from today:

The Nearmap share price fell by 23% after investors responded to the legal case relating to patent infringement.

Nearmap said that it was made aware on the morning of 5 May 2021 of a complaint filed against its subsidiary, Nearmap US Inc, in the United States District Court (District of Utah, Northern Division).

The complaint alleges patent infringement relating to the plaintiffs’ roof-estimation technology. The allegations do not affect Nearmap’s core proprietary technology and do not affect the surveying of imagery or the delivery of premium content. The business remains unaffected, according to…

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