Figma (FIG) Drops 6% on Profit-Taking

We recently published 10 Stocks Facing a Total Meltdown. Figma, Inc. (NYSE:FIG) is one of the worst-performing stocks on Wednesday.

Figma saw its share prices decline by 6.24 percent on Wednesday to close at $81.91 apiece as investors began to take profits following two straight days of gains, after resolving an intellectual property dispute with Motiff.

The case stemmed from a September 2024 legal case filed by Figma, Inc. (NYSE:FIG) against Motiff and its affiliates for alleged breach of contract and copyright infringement.

Under the settlement agreement, Motiff will cease selling its current Motiff Editor Tool and will not sell any future products derived from it globally, with the exception of mainland China. In mainland China, Motiff may continue to sell its current Motiff Editor Tool for one year, while it reengineers and redesigns the product.

Motiff has also agreed to reimburse Figma, Inc.’s (NYSE:FIG) legal expenses.

“Figma is singularly focused on building the best possible product for our users. We welcome fair competition and strongly believe that no one should be allowed to copy our or others’ IP to gain an advantage. We are pleased to have reached a global settlement that aligns with Figma’s values and allows us to keep building for our customers and community without distraction,” a company spokesperson said.

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