Boston, MA 10/22/2013 (wallstreetpr) – Following the last week’s ruling on a patent case pitting ParkerVision, Inc. (NASDAQ:PRKR) against Qualcomm Inc., PRKR’s gained massively, indicating around 180% by the close of Friday’s closing. For shares which have been wallowing near the bottom at around $2.50, the monster run of PRKR’s shares saw it close up $6.39 on Friday, October 18, after jumping 17.68%, the strongest show of the shares in years. Now, the radio frequency tech company has $590.51 million in market cap. At the start of last week, PRKR had its market cap hovering around $250 million.
The federal judge sitting in Orlando declared a ruling in favor of PRKR in the Thursday’s patent infringement case against Qualcomm Inc. It now means that the radio frequency designer stands to gain hundreds of millions in dollars in damages compensation.
The Thursday’s verdict marked the end of the first phase of the case which essentially sought to find out whether patent infringement did occur as alleged by the radio frequency company. Now the trial enters its second phase soon.
The trial is now proceeding to its second phase wherein the jury will decide damages. The radio tech company has been asking for about $500 million in damages. And now it is using this bait to its investors to say something about its future life in business. And in a very large way, this has worked really well, especially going by the monster run its shares have been into up to the previous trading session on Friday.
It is reported that if the court finds Qualcomm of intentional patent infringement, PRKR could be allowed up to three times of its present damage request.
A compensation for damages running into nearly $1.5 billion would be a much needed boost for the company. No wonder this verdict has come as an extreme excitement or the PRKR fraternity.
