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Appeals Court Upholds $74M Award for TiVo, Stock Soars
Wednesday, January 30th, 2008 at 3:00 PM - by John Martellaro
An appeals court ruled in favor of TiVo on Thursday in its patent court battle with EchoStar, according to TVPredictions. TiVo’s stock has jumped over 30 percent.
TiVo sued Echostar back in 2004 and claimed that the satellite broadcaster had violated its "Time Warp" patent that launched the time shifting pheneomenon. A Texas jury awarded TiVo nearly US$74M in 2006, but the ruling was appealed.
According to Phillip Swann at TVPredictions, EchoStar’s legal options appear to be exhausted and EchoStar will either be required to pay the award or work out a licensing agreement with TiVo.
TiVo’s stock climbed over US$9.00 in trading on Thursday, up from an opening of $6.80.
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