Market Wrap: Marvell Hit on Infringement Verdict; Home Prices Rise; Holiday Sales in Limbo
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Marvell (MRVL) Affirms Patent Infringement Verdict; Will Pay $1.17B in Damages
December 27, 2012 8:04 AM ESTMarvell (Nasdaq: MRVL) announced that on December 26, 2012, a jury in Pittsburgh delivered a verdict in a lawsuit brought by Carnegie Mellon University ("CMU") against Marvell and Marvell Semiconductor, Inc. ("MSI"), Marvell's U.S. operating subsidiary, in the United States District Court for the Western District of Pennsylvania.
In the lawsuit, CMU asserted that Marvell infringed two CMU patents claiming a specific technique related to read channel detector technology that is not practiced by any Marvell chips. Specifically, the patents at issue are U.S. Patent Nos.... More
RBC Expects Marvell Technology (MRVL) to Appeal or Settle CMU Ruling at Lower Price Tag
December 27, 2012 7:43 AM ESTShares of Marvell Technology (NASDAQ: MRVL) collapsed 10 percent Wednesday after the United States District Court for the Western District of Pennsylvania ruled in favor of Carnegie Mellon University (CMU) in the amount of $1.17bil over Marvell relating to two noise patents, where Marvell has been found to infringe.
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