Marvell Seeks to Overturn $1.17 Billion Patent Verdict

Thursday, 27 Dec 2012 08:27 AM

 

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Marvell Technology Group Ltd. said on Thursday it will try to void a $1.17 billion damages award imposed by a federal jury that found the chipmaker had infringed two patents held by Carnegie Mellon University.

In a statement, the company said it will seek to overturn Wednesday's verdict in post-trial proceedings in the U.S. District Court in Pittsburgh. It said if necessary, it will take its case to the U.S. Federal Circuit Court of Appeals in Washington

Marvell said it has not determined the financial impact, if any, on operating results for its fiscal fourth quarter, which ends on February 2, 2013. Shares of the company fell 1.5 percent in premarket trading.

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