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Tessera Technologies Inc. Message Board

  • jacosa jacosa Nov 29, 2011 10:45 AM Flag

    What did they say?

    In its press release on the final disposition of the Wireless ITC case, Tessera management added this:

    "Tessera Technologies, Inc. also announced today an update to its disclosure practices. In addition to complying with SEC and NASDAQ mandated requirements, the Company has historically issued press releases similar to this release with respect to litigation matters as a matter of course. The Company is changing this practice and, in addition to all required disclosure, intends to comment publicly on litigation matters on a more selective basis, taking into account the adequacy of SEC and NASDAQ disclosure requirements to serve the needs of its stockholders."

    Does this mean that they will be saying more, or less?

    The actual commentary in the PR is scant and pretty much useless. Perhaps the change is that they won't be issuing PRs when they have nothing to add to the bare disclosures.

    Alternatively, at the beginning of The Wireless ITC Case, defendants issued a string of PRs and obtained media coverage damaging to the price of TSRA stock, successfully limiting the company's access to capital markets. Tessera didn't respond effectively. Perhaps this statement is preparation for fighting a similar attack in support of the damages trials: the company will comment in public when it chooses to.

    I think that it's more the former.

    So--what did they say, in English (or other modern language)?

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