Update 06/03 @ 8:48PM: EchoStar has won a stay. It looks like this dispute will continue for some time…
TiVo’s stock has skyrocketed (up 50%+) on news that Echostar has been ordered to pay TiVo an additional $103 Million for infringing upon TiVo’s “Time Warp” patent. EchoStar still has the option to appeal the ruling however, it seems unlikely that EchoStar will benefit from yet another appeal. Here’s TiVo’s response for those of you who are interested…
ALVISO, Calif., June 2 /PRNewswire-FirstCall/ — TiVo Inc. (Nasdaq: TIVO), the creator of and a leader in television products and services for digital video recorders (DVR), offered the following statement today regarding the decision by the United States District Court, Eastern District of Texas, in the lawsuit against EchoStar Communications Corporation:
“We are extremely gratified by the Court’s well reasoned and thorough decision, in which it rejected EchoStar’s attempted workaround claim regarding the TiVo patent, found EchoStar to be in contempt of court and ordered the permanent injunction fully enforced.
In addition, the Court’s award of an additional $103 million plus interest through April 2008 makes this victory all the more important. EchoStar may attempt to further delay this case but we are very pleased the Court has made it clear that there are major ramifications for continued infringement.”
[...] details have been revealed however, this news makes a lot of sense considering the fact that TiVo recently won their long standing patent battle with EchoStar. As the Bloomberg article points out, TiVo will [...]