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Shares of digital media recorder pioneer TiVO (NASDAQ:TIVO) are moving higher before the bell after its announcement that Verizon (NYSE:VZ) will pay an amount of $ 250.4 million as compensation in their patents dispute involving DVR technology. The settlement also involves joint distribution of streaming video services in the future and a cross-licensing arrangement for the patents that formed part of the dispute.
Judge Ronald Whyte of the US District Court for the Northern the State of California ruled that technology licensing company Rambus (NASDAQ:RMBS) deliberately destroyed records that could have proved useful as evidence in the company’s patents suit against South Korean company Hynix Semiconductor. Though the court has not yet fixed penalty on Rambus, the destruction of the evidence “should preclude it from entitlement to a royalty that places Hynix at a competitive disadvantage,” said the Judge.
Global automotive batteries leader Johnson Controls (NYSE:JCI) complies with the Shanghai municipal government’s moves to remove lead manufacturing from the community by suspending lead processing operations at its Kangqiao battery plant. “While we are disappointed with the local government’s position, and we stand by our environmental performance, we will continue to transparently work with governments and the industry to address environmental requirements,” said Alex Molinaroli, president, Johnson Controls Power Solutions, according to Reuters.
Chrysler (FIATY.PK) is the odd man out in negotiations with the Canadian Auto Workers union as it shows no interest in following the lead of rivals GM and Ford (NYSE:F) in hammering out labour agreements. CAW President Len Lewenza reportedly draws the hard line saying ”It is up to Chrysler to live up to the pattern. If Chrysler says it won’t do the pattern, we will withdraw our labor.”
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