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ParkerVision Awarded $173 Million in Qualcomm Suit

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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.

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Related Tickers

9/23/2016 4:00 PM
PRKR $4.31 Down -0.18 -4.01%
ParkerVision CAPS Rating: *
QCOM $62.75 Down -0.77 -1.21%
Qualcomm CAPS Rating: ****