TiVo Inc. is soaring. Not just by some but by a major amount. The company announced just a few minutes ago that the U.S. Court of Appeals release a decision/ruling in the company’s lawsuit against EchoStar. The company noted:
- “We are pleased that the United States Court of Appeals for the Federal Circuit fully affirmed the district court’s finding of contempt against EchoStar, including both the disablement and infringement provisions. Additionally, this ruling paves the way for TiVo to receive the approximately $300M in damages and contempt sanctions awarded to us for EchoStar’s continued infringement through July 1, 2009. We will also seek further damages and contempt sanctions for the period of continued infringement thereafter. We will continue our efforts to protect our intellectual property from further infringement.â€
TiVo has seen its stock spike by about 50% to $15.40 and at 11:51 AM EST we have seen a whopping 25 million shares trade hands. Average volume is 1.75 million and the stock appears to have hit new 52-week highs.
JON C. OGG
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