Rovi Provides an Update on Ongoing Litigation
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Rovi (ROVI) Defended at B. Riley Following Negative Court Ruling vs Netflix
July 16, 2015 9:01 AM EDTB. Riley maintained a Buy rating on Rovi Corp. (NASDAQ: ROVI) with a price target of $29.50. Shares weakened pre-market after Rovi said a ruling granting Netflixs motion for summary judgment on five patents related to various features provided by the over-the-top (OTT) video service. In the view of analyst Eric Wold, the news is negative but is irrelevant to big 3/4" renewals and estimates.
"ROVI shares have already declined by 30% over the past five months as, we understand, investor concerns have heightened around the potential implications of a negative outcome in the... More
Rovi (ROVI) Announces Court Finds 5 Patents Invalid in Litigation vs Netflix
July 16, 2015 8:35 AM EDTRovi Corporation (NASDAQ: ROVI) today provided an update on ongoing litigation against Netflix, Inc. (Nasdaq: NFLX).
Rovi has been engaged in litigation against Netflix with respect to five patents related to various features and functionality provided by the over-the-top (OTT) video service.
On July 15, 2015, Judge Phyllis J. Hamilton issued a ruling granting Netflixs motion for summary judgment on the five patents at issue in the current litigation, finding the patents invalid on the grounds that they are not directed to patentable subject matter based... More
