We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tessera (TSRA) Sues Broadcom for Eight Patent Violations
Read MoreHide Full Article
Tessera Technologies Inc. along with some of its subsidiaries has announced legal proceedings against Broadcom Limited (AVGO - Free Report) and some of its customers and distributors for the infringement of a total of eight patents.
The proceedings are in both national and international jurisdictions including the United States International Trade Commission, the U.S. District Court for the District of Delaware, and courts in Germany and the Netherlands.
Tessera has been trying to come up with licensing solutions in partnership with Broadcom for several years. The company tried out technical collaborations related to semiconductor technology development and discussed licensing its intellectual property. However, licensing agreements could not be reached and all of Tessera’s efforts went in vain.
Notably, Tessera has assured that since Broadcom is not an existing customer, the proceedings are not going to impact its second quarter or 2016 full-year guidance. The company expects that its current target operating model will be able to cover litigation expenses in 2016.
CEO Tom Lacey commented, “Today’s actions were not taken lightly and are made only after years of effort to reach a fair and equitable resolution without litigation.” “At this point, we believe that litigation is necessary to defend our intellectual property rights. As we have said in connection with other legal matters, we remain willing to negotiate a resolution that fairly compensates Tessera and its shareholders for our valuable intellectual property. However, we are also fully prepared to proceed through the entirety of the legal process, and we remain very confident in our ability to achieve a positive outcome,” he further added.
Tessera is a Zacks Rank #2 (Buy) stock.
Better-ranked stocks in the broader technology space include Amkor Technology, Inc. (AMKR - Free Report) and TiVo Inc. , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tessera (TSRA) Sues Broadcom for Eight Patent Violations
Tessera Technologies Inc. along with some of its subsidiaries has announced legal proceedings against Broadcom Limited (AVGO - Free Report) and some of its customers and distributors for the infringement of a total of eight patents.
The proceedings are in both national and international jurisdictions including the United States International Trade Commission, the U.S. District Court for the District of Delaware, and courts in Germany and the Netherlands.
Tessera has been trying to come up with licensing solutions in partnership with Broadcom for several years. The company tried out technical collaborations related to semiconductor technology development and discussed licensing its intellectual property. However, licensing agreements could not be reached and all of Tessera’s efforts went in vain.
Notably, Tessera has assured that since Broadcom is not an existing customer, the proceedings are not going to impact its second quarter or 2016 full-year guidance. The company expects that its current target operating model will be able to cover litigation expenses in 2016.
CEO Tom Lacey commented, “Today’s actions were not taken lightly and are made only after years of effort to reach a fair and equitable resolution without litigation.” “At this point, we believe that litigation is necessary to defend our intellectual property rights. As we have said in connection with other legal matters, we remain willing to negotiate a resolution that fairly compensates Tessera and its shareholders for our valuable intellectual property. However, we are also fully prepared to proceed through the entirety of the legal process, and we remain very confident in our ability to achieve a positive outcome,” he further added.
Tessera is a Zacks Rank #2 (Buy) stock.
Better-ranked stocks in the broader technology space include Amkor Technology, Inc. (AMKR - Free Report) and TiVo Inc. , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>