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| Monday, June 26, 2006 |
Finisar wins $78.9 mln in patent case against DirecTV
Mon Jun 26, 2006 5:55 PM ET
June 26 - Communications equipment firm Finisar Corp.(Nasdaq FNSR) on Monday said it won $78.9 million in damages in a patent infringement case against satellite television company DirecTV Group Inc. .
The information transmission patent addresses ways to transmit and broadcast digital information to a wide base of subscribers and the method was invented by Finisar co-founder Frank Levinson, the company said in a statement.
The Sunnyvale, California-based company said the jury rendered its decision last Friday after a two-week trial and unanimously upheld the validity of the patent.
DirecTV said it will contest the jury's decision through post-trial motions or on appeal.
In a statement DirecTV said, "We believe the jury's verdict is wrong and represents a distortion of patent infringement law ... we believe evidence will ultimately show there was no infringement."
Shares of Finisar were up more than 2 percent at $3.37 in midday trading on the Nasdaq, and DirecTV rose 8 cents to $16.31 on the New York Stock Exchange. |
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