Microtune Shares Rise on Broadcom Ruling
Shares in Microtune Inc. rose nearly 50%, one day after a Texas jury found in the chip maker’s favor in a patent lawsuit against Broadcom Corp.
Shares of Microtune were up 43.8%, or 77 cents, at $2.53 on Nasdaq. Broadcom shares were down 3 cents at $15.96 on Nasdaq.
Microtune said a jury in federal court in eastern Texas found that Irvine-based Broadcom infringed on a Microtune patent related to a single-chip tuner used in TVs, set-top boxes, cable modems and digital TVs.
Broadcom said it would appeal. Broadcom has filed two lawsuits against Plano, Texas-based Microtune alleging patent infringement.