NEW YORK (Thomson Financial) - Shares of Rambus Inc. turned higher Tuesday,
after an federal appeals court remanded the Samsung Electronic's case against
the company to district court, with the instruction that the court dismiss
Samsung's complaint.
Rambus' stock rallied 3.8% to $23.09, erasing an earlier loss of as much as
0.8%.
The U.S. Court of Appeals for the Federal Circuit said Rambus' offer to pay
Samsung's requested attorney fees in full brings an end to the case and the
controversy between Rambus and Samsung, making the case moot.
"Accordingly, this court vacates the order of the district court denying
Samsung's application for attorney fees and entering findings with respect to
the spoliation of evidence as issued without jurisdiction," the appeals court
said.
Tomi Kilgore
tk1
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