Rambus Inc. said Tuesday an appeals court ruled on its side in a patent lawsuit with Samsung Electronics Co., denying Samsung's motion for attorney fees and instructing a district court that it dismisses the South Korean company's complaint.
Rambus said the Court of Appeals for the Federal Circuit vacated an order of the Federal District Court for the Eastern District of Virginia and instructed that Samsung's claims against the company be dismissed.
The appeals court dismissed the district judge's findings because they were made without subject matter jurisdiction and thus became moot, Rambus said.
A U.S. representative for Samsung could not immediately be reached for comment Tuesday afternoon.
"We are pleased with this decision as it ends a years-long debate and further clears the field to focus on the real issue of the ongoing patent infringement of Samsung and the other DRAM manufacturers," Tom Lavelle, senior vice president and general counsel for Rambus, said in a statement. DRAM chips are the most common type of memory chips used in PCs.
Jeff Schreiner, an analyst with Capstone Investments, said the decision has reduced legal risk in Rambus shares. He rates Rambus "Strong Buy."
Shares of Rambus, which develops high-speed chip interfaces, rose $1.24, or 5.6 percent, to $23.52 in afternoon trading. In the past 52 weeks, the stock has traded between $12.05 and $26.41.
Terms & Conditions
RSS Headlines
Fool UK