Carnegie Mellon Files to Receive More Damages in Marvell (MRVL) Infringement Case
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Price: $237.04 -5.57%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.1%
EPS Growth %: +38.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.1%
EPS Growth %: +38.8%
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Carnegie Mellon University (CMU) is looking for even more from Marvell Technology Group (Nasdaq: MRVL) in its patent infringement case.
According to reports out on Tuesday, CMU filed papers seeking even more than the $1.7 billion in damages it was awarded last December. The institution is proposing that Marvell pay about three times as much as the initial award, pay $1.50 for every chip sold after July 29, 2012, and stop selling chips that infringe on the patents in question.
CMU received two patents in 2001 and 2002 covering ways for computers to find data on hard-disk drives by filtering out "noise," or unwanted electrical signals. The university than filed a claim against Marvell in March 2009, citing infringement of said patents.
Marvell has stated plans to fight the verdict, which came about on December 26th. Shares of Marvel are down 0.3 percent.
According to reports out on Tuesday, CMU filed papers seeking even more than the $1.7 billion in damages it was awarded last December. The institution is proposing that Marvell pay about three times as much as the initial award, pay $1.50 for every chip sold after July 29, 2012, and stop selling chips that infringe on the patents in question.
CMU received two patents in 2001 and 2002 covering ways for computers to find data on hard-disk drives by filtering out "noise," or unwanted electrical signals. The university than filed a claim against Marvell in March 2009, citing infringement of said patents.
Marvell has stated plans to fight the verdict, which came about on December 26th. Shares of Marvel are down 0.3 percent.
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