logo
Plus   Neg
Share
Email
Comment

Marvell To 'Vigorously Challenge' $1.17 Bln Patent Verdict

marvellmicrochip-122712.jpg

Marvell Technology Group Ltd. (MRVL) said Thursday that it will seek to overturn a federal jury's verdict on Wednesday that ordered the company to pay $1.17 billion in damages in a patent infringement lawsuit brought by Carnegie Mellon University. The chipmaker said it plans to "vigorously challenge" the judgment through all appropriate post trial motions and appeal processes.

In the lawsuit, Carnegie Mellon University or CMU had asserted that Marvell infringed two of its patents claiming a specific technique related to read channel detector technology that is not practiced by any Marvell chips. The patents relate to fundamental technology for increasing the accuracy with which hard disk drive circuits read data from high-speed magnetic disks.

On Wednesday, a jury serving the U.S. District Court for the Western District of Pennsylvania ordered Marvell to pay $1.17 billion in damages.

The federal jury made a special finding that Marvell's infringement was willful, providing the legal foundation for judge Nora Barry Fischer to enhance the jury's verdict by increasing it by as much as three times the amount awarded by the jury.

The jury also disagreed with Marvell's contention that its chips did not use Carnegie Mellon University's technology and that the university's patents were invalid.

However, Marvell said it believes that the evidence and the law do not support the jury's findings of infringement, validity and the award of damages.

The company noted that here are strong grounds for appeal and the company will seek to overturn the verdict in post-trial motions before the District Court. If necessary, the company plans to appeal to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C.

Marvell said that as of October 27, 2012, it had not accrued any liability in its financial statements for this lawsuit. The company added that it has not yet determined the financial impact, if any, of the lawsuit to the results of its operation for the fourth quarter ending February 2, 2013.

Marvell provides a range of integrated data storage products, including hard disk drive, solid-state drive, hybrid hard disk drive, and optical disk drive controllers, as well as storage-system products.

In Thursday's regular session, MRVL is trading at $7.15, down $0.25 or 3.38 percent on a volume of 10.30 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net... Cannae Holdings, Inc. said Wednesday that its portfolio company, Ceridian HCM Holding Inc., has confidentially filed for an initial public offering. Ceridian HCM, a provider of human resources software and services, filed a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed IPO of its common stock. Goldman Sachs Group Inc. on Wednesday reported a loss for the fourth quarter, reflecting lower trading revenue in fixed income, currencies and commodities as well as a charge related to the recent U.S. tax reform. However, both adjusted earnings per share and revenues for the quarter topped analysts' expectations.
comments powered by Disqus
Follow RTT