As the man said, endless. This OUGHT to be the simplest kind of contract dispute, but there are a couple levels of appeals left. And while AMKOR has plenty of clout, they aren't in a league with Qualcomm. So this looks like the one that the new Tessera WON'T go out of their way to settle. If I was Mr Tessera, I'd even consider trying to claim punitive damages for frivolous litigation.
So anyway, don't hold your breath on that dividend.
Amkor ordered to pay Tessera $128M+
Oct 10 2014, 16:26 ET | About: Tessera Technologies, Inc. (TSRA)
Tessera (NASDAQ:TSRA) states a California state court has ordered chip test/packaging services firm Amkor (NASDAQ:AMKR) to pay the company a $128.3M arbitration award, along with post-judgment interest, over the companies' long-running patent dispute.
Tessera also states the USPTO has upheld the patentability of 14 of the 16 challenged claims in its '076 patent, which was among those at issue in the Amkor dispute.
General Counsel Paul Davis: "We hope that Amkor will finally live up to its agreement and pay on the award rather than continue to delay and challenge it through endless procedural maneuvers and appeals."
Harry has posted Charts of the Day video on TSRA at TheTechTrader site noting: Tessera Technologies Inc. (TSRA) exploded three days ago, pulled back, jumped again, and on Tuesday, it gapped and ran to new highs at 26.50, and closed there as well. It was up 85 cents, or 3.3%, on 1.2 million shares. That’s the best volume in three sessions, and the second best volume since March. This is an important breakout, not only out of the wedge, but out across key-overhead resistance. It has a massive rounding-type bottom base. The target for this one is 32.
You may have missed the management transition. New dog with old name, so we just don't know its character yet.
I'm starting to be hopeful.
The settlement with Qualcomm seems to end the last major lawsuit. Most of DOC is gone. I'm not sure how we'd know about internal changes in the direction of research, but the externally-visible parts of the program seem to be done. Any attempts at a verdict?
The settlement isn't as big a deal as the legal fees. I believe this ends the case entirely. Unfortunately, there's still a fight with Qualcomm ahead, and they are notoriously stubborn.
Well, the $30MM is nice, and the conciliatory noises along with the money are nice too. But I think the big fish in this kettle is Qualcomm, and they aren't real likely to settle. So unfortunately, the legal fees continue. I think.
Listened, also read the transcript. Sounded pretty good. First I heard of what the procedural ruling in the PTI litigation amounted to. Sounds to me like what it amounted to was the judge telling PTI that they were going to lose, and they'd better make the most of a last chance at mediation. But I'm not a lawyer.
Sounds like management is pretty determined to run the company rather than liquidate entirely. They see a lot of opportunity in high value areas of the device business.
Probably the biggest development was that a lot of analysts asked questions. They hope to get information, which is a huge improvement from previous management. The promise by management to be "as open as they can be" sort of trapped them with a gap between $120MM of expected recurring revenue and $180-200MM of expected revenue--they can't say how much is an estimate of episodic revenue and how much is expected new streams of recurring revenue. And since Tessera has requested damages of $300MM in the PTI matter and over $120MM from Amkor, it looks pretty confusing.
It is a great technology, but hard to reproduce without large yield loss. The MEMs actuator is also a little fragile for some applications. Still, it's very hard to beat it's ability to take great photos with the subject in motion as most VC cameras can't do now.
Or at least manufacturing stopped. Still a beautiful technology with a lot of promise, but there just doesn't seem to be a way to make money with it. I'd like to see what the stand-alone camera companies can do with the technology. There ought to be some way to give designers a chance to play with it assuring their employers that the outcome won't be something they have to pay a lot to Tessera to use. I admit it: the possibilities of fly-eye cameras (many images electronically combined) fascinate me.
I have found Mr Lacey's CCs generally encouraging. It seems like his permanent appointment is an owner-friendly development.
Of course, Mr Nothaft gave great CCs and the company got out of control during his tenure. I'd like to see the relative openness about legal matters continue, and a return of fairly regular boasting about the value of Tessera's products to the company web site. A dog-and-pony show every third year wouldn't be out of place either, and it would be appropriate soon. It would also be nice to see a rationalization of the division between 'root' Tessera and Invensas. (Actually, I'd like to see DOC spun off and Tessera renamed to Invensas, but anything that doesn't sort IP products by age would be an improvement).