Thursday, February 05, 2009

Rambus stock tumbles on litigation postponement

Forbes (through AP) in Rambus shares tumble after judge halts patent suit noted:

Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California postponed the trial until a separate appeal in the case is resolved.

Rambus stock price went down:

BWS Financial analyst Hamed Khorsand said the delay could last as long as long as two years. But he said he was surprised by the effect on Rambus's stock.

The issue in D. Delaware concerned litigation misconduct, not prosecution misconduct:

A Delaware court found last month that Rambus could not pursue the case against Micron because Rambus had destroyed evidence that it knew would be relevant at trial during or leading up to the suit.

DowJones noted: Rambus said that in a separate ruling, the California court denied Hynix's motion for summary judgment based on the Delaware ruling. The company also said that, "In an earlier case against Hynix, the California Court found that Rambus had not spoliated any evidence. Due to the conflicting opinions of these two courts, the California Court decided to stay further proceedings except for Hynix."

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Blogger Poonam said...


9:50 AM  

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