I don’t have a lot of details on what will be reheard in the TiVo/DISH/Echo DVR patent infringement saga, as the story is breaking and I’m hopping on a plane in minutes. (I’m also no lawyer.) But I believe this is specific to continued infringement and contempt related to DISH’s workaround, rather than a revisit of the original patent dispute (and TiVo victory). TiVo shares are currently plummeting, down more than 1/3rd. I’ll try to update this item when I land, should additional details present themselves. From Business Week:
TiVo Inc.’s legal victory against Dish Network Corp. and EchoStar Corp. for infringing a patent on digital-video recording services will be reconsidered by an appeals court. The court said it will consider whether the judge erred in not giving Dish a trial to determine if its workaround was still infringing TiVo’s patent.
UPDATE :
TiVo’s remarks…
We are disappointed that we do not yet have finality in this case despite years of litigation but we remain confident that the Federal Circuit’s ruling in our favor will be reaffirmed after all of the judges on the Federal Circuit have had the opportunity to review the merits of this case
DISH/Echo’s remarks…
DISH Network and EchoStar are pleased that the full Federal Circuit Court of Appeals has granted their petition for rehearing en banc. We believe the issues that will be considered by the full court on rehearing will have a profound impact on innovation in the United States for years to come.
The market giveth, the market taketh away.
The stock crashed because the en banc was expected to be denied (even the Dish CEO thought so). The market doesn’t like unexpected things. In this case though, I think the market is over-reacting to the news. DISH has a pretty consistent losing streak on their appeals. I don’t see the en banc being any different. If that happens, I expect the stock will shoot back up again.
yeah, the MARKET knew. My may 15$ puts were already rising at the open, exited at up 1000%, but they went higher to 1400% oops, but the market somehow knew in advance. gotta get ahead of it.
Ouch, I was seriously planning on finally selling off my TiVo stock last week and didn’t get around to it. They’re all shares I purchased like eight years ago when it was in the 30’s. Oh well.