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Technology Stocks : Finisar - FNSR

FNSR 23.77

0.0%

Sep 24 5:00 PM EST

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To: ELH1006 who wrote (363)	4/18/2008 2:15:00 PM
From: Kirk ©	of 509

UPDATE: Appeals Court Vacates Patent Win For Finisar Dow Jones April 18, 2008: 12:37 PM EST DOW JONES NEWSWIRES A federal court of appeals sent Finisar Corp.'s (FNSR) patent infringement suit against DirecTV Group Inc. (DTV) back to a lower court in vacating decisions that called for DirecTV to pay Finisar more than $100 million for infringing on an information-transmission patent. The news sent Finisar's shares down 12 cents, or 9.2%, to $1.19. Finisar, which makes high-speed data transmission equipment, had 2007 revenue of $418.6 million. The appeals court ruled that the district court that handled the 2006 case " incorrectly construed a vital term featured prominently in each asserted claim" and made other errors. The court said the errors would affect the validity of the rest of the claims so a new trial is necessary. The patent in question was developed by Finisar co-founder Frank Levinson and involves transmitting and broadcasting digital information. Finisar was awarded $78.9 million by the jury, and the judge overseeing the case tacked on $25 million, as well as ordered interest on the jury verdict. DirecTV shares were at $25.60, up 15 cents.

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