TiVo Inc. (NASDAQ: TIVO) is down after it is having to explain another patent office rulingâ¦. It appears as though that decision that went against TiVo in favor of DISH Network Corporation (NASDAQ: DISH) and EchoStar Corporation (NASDAQ: SATS) is holding.
TiVo shares in the minute before the closing bell are trading down 5.5% at $7.70 on over 10 million shares right at the 4PM Closing Bell, which is mostly from the headline effect of the last five or six minutes.Â DISH shares closed up unofficially by 0.25% at $19.97 and SATS shares closed up unofficially by 1.1% at $20.50.Â It seems that almost all hope for TiVo had eswcaped based on its poor performance and shares hitting a new 52-week low today.
TiVo offered the following statement on the United States Patent and Trademark Office (PTO) decision.
âWhile TiVo is disappointed with this recent PTO office action, this is just one of several steps in the review process. We will continue to work with the PTO to explain the validity of the claims under review. It is important to note that TiVo received a âfinal actionâ holding several claims invalid during EchoStarâs first reexamination request at this juncture only to have the PTO ultimately uphold the validity of all claims of the patent.
Moreover, the PTO proceeding is separate and apart from the ongoing litigation against EchoStar and does not impact the current United States Court of Appeals en banc review of the district courtâs finding of contempt against EchoStar and the related injunction.â
DISH Network L.L.C., a subsidiary of DISH Network Corporation (Nasdaq:DISH â" News), and EchoStar Technologies L.L.C., a subsidiary of EchoStar Corporation (Nasdaq: SATS) made the following statements:
âWe are pleased the Patent and Trademark Office issued a Final Office Action maintaining its rejection of the software claims of TiVoâs patent. These software claims are the same claims that EchoStar was found to have infringed in the contempt ruling now pending for en banc review by the Federal Circuit. In the Final Office Action, three examiners of the PTO considered TiVoâs response and, in a detailed 32-page decision, finally concluded that the software claims were unpatentable in view of two prior art references.â
JON C. OGG