Qualcomm infringed ParkerVision patents and none were invalid, a federal jury in Orlando, Florida, said today. The jury decision came after more than a week of testimony and two days of deliberations. ParkerVision rose $2.06, or 61 percent, to $5.43 at 4 p.m. in New York trading of 19 million shares, 23 times the three-month daily average.
A second phase now begins to determine how much Qualcomm should pay and whether the infringement was intentional, which could mean an even higher damage amount. ParkerVision claims Qualcomm, which owns the most widely used technology standard in mobile phones with Internet access, was the chief impediment to its wireless designs being adopted by the telecommunications industry.
“We are extremely pleased with the jury’s verdict in this case and we look forward to presenting our damages and willfulness arguments over the coming days,” ParkerVision Chief Executive Officer Jeffrey Parker said in a statement.
Qualcomm said it was disappointed in the verdict. “There is still more to come in this case so we cannot comment further at this time,” said Christine Trimble, a spokeswoman for San Diego-based Qualcomm.