Patent Law

Punted

By Gary Odom and Jordan Kuhn

The power of patents to stock punters was apparent on Tuesday as Tessera Technologies shares were battered in the wake of a non-final office action in a patent reexamination; the price ravaged 39%, losing $8.99, closing at $14.07. Like a kindergarten "time out," share trading was halted mid-day after a free-fall of 52%; trading in massive volume. Tessera's patent gravy train has reaped $250 million in licenses so far.

Taiwan-based Siliconware Precision Industries instigated the reexamination. Orrick, Herrington and Sutcliffe represented Siliconware. Patent Hawk, patent killer par excellence, participated in the prior art search to invalidate Tessera patents.

Tessera CEO Bruce McWilliams practically went unheard in reminding that non-final office actions are not at all unusual, and not the bottom of the ninth inning by any means.

Full post as published by The Patent Prospector on March 05, 2008 (boomark / email).