TiVo Inc. (TIVO) received a favorable ruling from the U.S. Court of Appeals for the Federal Circuit, Thursday when the court voted 2-1 to uphold a judge’s ruling to hold Dish Network Corp. (DISH) and EchoStar Corp. (SATS) in contempt.
The district court judge had previously placed the sister companies’ in contempt for their continued patent infringement on a digital-video recorder device held by TiVo.
TiVo said it was “pleased” with the ruling in a statement released Thursday, and noted that the ruling “paves the way for TiVo to receive the approximately $300M in damages and contempt sanctions awarded to us for EchoStar's continued infringement through July 1, 2009.”
The digital-video recording company also said it will seek further contempt sanctions and damages for the continued period of infringement.
Meanwhile, Dish Network and EchoStar released a joint statement following the ruling stating that while both companies were disappointed with the split decision made by the Federal Circuit, they were happy to see Judge Rader, the dissenting judge, agree with the companies’ position.
"Therefore, we will be seeking en banc review by the full Federal Circuit. We also will be proposing a new design-around to the district court for approval. At this time, our DVR customers are not impacted," the two companies said, according to the release.
Shares of TiVo soared $6.32 or 61.90% in Thursday’s session, closing the day at $16.53. The stock was down 2 cents in after-hours trading. Shares of Dish fell $1.12 or 5.16% in the regular session to close at $20.59 a share, but rose 90 cents in after-hours trading. EchoStar gained 4 cents on Thursday to close at $19.84, but the stock fell 4 cents after the market closed.
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