ParkerVision (NASDAQ:PRKR) is seeing a pile of money following a victory in the legal arena. A jury in a U.S. District Court in Florida awarded the firm $173 million in damages from Qualcomm (NASDAQ:QCOM) in a patent infringement lawsuit. The award was compensation for both direct and indirect infringement.
The trial was a fairly quick one; it started on October 7. ParkerVision levied 11 claims of infringement on the telecom equipment maker regarding four of its patents related to radio-frequency receivers and the down-conversion of electromagnetic signals. Qualcomm was found guilty on all 11 claims.
In spite of what ParkerVision CEO Jeffrey Parker claimed was a "significant win" in the case, his company's stock closed down on the day by 59%, or $4.19, to $2.90.
Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.