No ruling sinks TiVo stock
Judge doesn't force EchoStar to disable DVRsTiVo shares rewound 16.5% on Thursday, erasing gains made during August, as investors reacted to indecision at a court hearing.
TiVo offered its motion Thursday for contempt against EchoStar in the ongoing patent infringement lawsuit that TiVo has won. A judge, though, did not force EchoStar to disable DVRs that Dish subscribers use, nor did it demand that a licensing deal be struck or that EchoStar immediately pay the damages already awarded to TiVo.
The judge is expected to consider the matter for at least another three weeks, but impatient shareholders dumped TiVo stock, causing shares to fall $1.44 to $7.31 on volume of more than four times its average.