Carnegie Mellon seeks up to triple damages in Marvell patent case
People forget this more than $1.1B lawsuit. After this paymeht, MRVL will be ~$7.60 or $2 less!
"Reuters) - Carnegie Mellon University is asking a court to make Marvell Technology Group Ltd pay up to three times the $1.17 billion jury verdict that the chipmaker was ordered to pay in December for patent infringement.
The university filed papers Monday in U.S. District Court in Pittsburgh, Pennsylvania, saying Marvell knew it was using Carnegie Mellon patents wrongfully and should pay up to triple damages as a result. Carnegie Mellon also is seeking $321 million in pre-judgment interest."
mrvl stock is doing well. CMU should go after MRVL and get 3X and then BK them. If so, then they get all shares and sell to the highest bidder. These crooks stole patents and should be fined. That's why there is a patent in the 1st place.
Standard procedure from the greedy crooked lawyers in America. Judges NEVER give more damages than a jury, and usually less. I expect an appeal which will tie it up a couple of more years and then if Mavel loses they will get a 5-7 year payment schedule. Not as big a deal as you make is sound, but certainly a headwind.