Today's news is that not a legal action but merely the publication of a decision to grant a US patent relating to an action camera system to Apple Inc. made the share price of the "action camera" producer (and market leader) Go Pro dramatically drop. Indeed, the share value of GoPro dropped by roughly 13% on Tuesday.
Looking at the 1 month chart (right), the development appears less dramatic and well within the order of magnitude of typical fluctuations.
A further interesting point is that the patent specification specifically mentions drawbacks of GoPro products (this not being a surprise given that GoPro is the market leader). This is interpreted by the jounalists in such a way that Apple has specifically targeted GoPro. An interesting case on how and why the mentioning of drawbacks or problems of competitor's products in a patent specification may harm a company's reputation and be unfair competition (and what the company can do against this) was reported here.
The secretive business attitude of Apple promotes speculations on potential new business fields in an extreme way and the mere publication of patent application has already been the basis for business news created by journalists reading the tea leaves and subsequent hysterical reactions earlier. However, the huge impact on a specific stock price of a third party is a new and scary development for me. After all, patent documents are not meant to be business news.