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December 27, 2012
08:41 EDTMRVLMarvell says will seek to overturn negative patent verdict
On December 26, a jury in Pittsburgh delivered a verdict in a lawsuit brought by Carnegie Mellon University against Marvell Technology Group and Marvell Semiconductor, Marvellís U.S. operating subsidiary, in the United States District Court for the Western District of Pennsylvania. In the lawsuit, CMU asserted that Marvell infringed two CMU patents claiming a specific technique related to read channel detector technology that is not practiced by any Marvell chips. Marvell and MSI said in an 8-K filing that they believe there should be no disruption to their business or customers as a result of the verdict. Marvell and MSI believe that the evidence and the law do not support the juryís findings of infringement, validity and the award of damages. There are strong grounds for appeal and Marvell and MSI will seek to overturn the verdict in post-trial motions before the District Court and, if necessary, to appeal to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. Marvell and MSI intend to vigorously challenge the judgment through all appropriate post trial motions and appeal processes. In addition, the district court in Pittsburgh has yet to rule on certain of Marvellís defenses and motions, including laches and Marvellís renewed request for a mistrial.
News For MRVL From The Last 14 Days
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December 12, 2014
08:31 EDTMRVLMarvell increases share repurchase authorization by $250M
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December 10, 2014
08:04 EDTMRVLBroadcom price target raised to $52 from $48 at Oppenheimer
Oppenheimer raised its price target on Broadcom as the firm believes that the tone at the company's Analyst Day was positive. The firm thinks the company's networking unit looks poised for further share gains at Marvell's (MRVL) expense. Oppenheimer continues to recommend buying the stock.

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