What happened is this:
Augme sued Yahoo for alleged infringement of two patents, Yahoo said Augme infringed two of their patents (via counterclaim). All this was consolidated into one suit (for intents and purposes) but the patent interpretations for the claims and counterclaims were done on different schedules.
Yahoo then said to the judge (via motion for summary judgment) - hey judge I don't infringe the other guys patents. The judge said, Yahoo, you're right, you don't, Augme's case is dismissed. Yahoo's counterclaims against Augme were still intact and not yet adjudicated (because of the different schedules). Yahoo and Augme got together and said - we both agree that you don't infringe on one of Yahoo's counterclaims -- that leaves one Yahoo counterclaim alive and left to be heard by the judge.
Augme said - we want to appeal this to a higher court and there's no reason to wait to hear the counterclaim as it's not going to affect our appeal so please split the case up (if it was still pending together they would have had to wait until the counterclaim was heard and possibly tried to appeal). Judge said ok.
All this does is allow Augme to appeal the MSJ and hopefully get it reversed in a much faster timeframe. However, it says nothing about the validity of their case or the odds of it getting reversed.
I can't post a link here for whatever reason. If anyone wants to read the entire ruling by Judge Spero, you can find it on another forum that begins with Investors and has a HUB after it. I'm curious as to why we have gone down every day since this ruling Dated Oct 29th... Is it a non-event? On the surface I would think not... However, numbers don't lie... we are .59 cents... TSP
tsp....there are many reasons that stock get sold in today's environment. The uncertainty of the fiscal cliff, tax rates, and tax loss selling. But nothing have been further from the truth that augme has NO CASE in the IP side. The company will definitely appeal this case in time and will be successful at end. Meantime I am enjoy the explosion in the core business and its success in coming years.
I'm not able to post a link to the ruling because it says it's spam. However, can someone help me here? This is dated October 29th.. I'm no attorney, but if we've gone down in price practically every trading day since the 29th... is it safe to assume this is a non-event? Is it safe to say the insiders who knew of this ruling would've been buying? Just sayin... TSP