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.