Marvell to appeal patent case

Investor's Business Daily

The chipmaker vowed to appeal a jury verdict that found it willfully violated patents held by Carnegie Mellon Univ. The jury ordered Marvell Technology (MRVL) to pay the Pittsburgh university $1.17 bil in damages for violations of two patents involving techniques used for accessing data on computer hard-disk drives. Marvell, which has an IBD Composite Rating of 15, an EPS Rating of 38 and a Relative Strength Rating of 4, says it developed the technology in-house. Shares fell 3.5% to 7.14.

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