TiVo stock soars after hours as judge awards it $190 Million from EchoStar
LOS ANGELES (Reuters) – A federal judge in Texas awarded set-top box maker TiVo Inc about $190 million in damages on Tuesday in a long-running patent infringement dispute with DISH Network Corp and EchoStar Corp.
TiVo’s patent with several digital video recorder models by implementing new “workaround” technology that TiVo claimed still infringed.
The court set a June 26 hearing on potential sanctions against EchoStar.
In his final order, Folsom ruled that TiVo should recover from EchoStar $73.9 million plus $15.7 million in interest on the patent infringement claims, plus $103.1 million in damages plus interest accrued during the stay of the injunction.
In after hours trading, TIVO was up more than $2 a share ($9.37 at 7:35pm EDT).