US Appeals Court Revives $3 Billion VLSI Patent Lawsuit Against Intel
INTC has more than doubled off its 52-week low of $18.175.
Summary
A U.S. appeals court has revived a lawsuit brought by VLSI Technology against Intel, overturning a previous federal judge's ruling that Intel did not infringe a VLSI patent. This decision sends the case back to a jury, re-exposing Intel to potential damages in a patent dispute that the headline values at $3 billion. This development reintroduces significant legal and financial risk for Intel, as previous jury trials in related disputes resulted in multi-billion dollar verdicts against the chipmaker, though some have been reversed or challenged. Traders will be watching for further developments in this long-running and costly legal battle.
At the time of this announcement, INTC was trading at $62.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $314.6B. The 52-week trading range was $18.18 to $65.65. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.