Tessera: ITC Finds No Infringement Of Wireless Patents

Tessera Technologies (TSRA) shares have fallen nearly in half in late trading after the company announced that the Administrative Law Judge overseeing its patent infringement case before the International Trade Commission asserting violation of its wireless patents by a group of semiconductor companies had found no infringement. The company said that the Initial Determination of the judge upheld the validity of the patents, but found no infringement. Tessera had asserted infringement against the ATI Technologies unit of Advanced Micro Devices , Fresscale Semiconductor , Motorola, Qualcomm , Spansion and STMicroelectronics . Tessera said it is “disappointed” in the ruling and will review the decision before determining its next steps. The company also raised its Q4 revenue guidance to a range of $67 million to $69 million, from $60 million to $62 million, citing stronger-than-expected royalty revenue from certain existing customers and “an option fee.” But ... (link)