Tomahawk, WI 06/23/2014 (Basicsmedia) – ParkerVision, Inc. (NASDAQ:PRKR) market stock is diving deep on Monday after the decision of the jurisdiction which was in favor of Qualcomm (NASDAQ:QCOM). The verdict which was initially been won by ParkerVision, Inc. (NASDAQ:PRKR), now has a court decision advocated to Qualcomm. This patent case bore a whooping $173 million which is now in accordance to Wireless technology tycoon.
The CEO of Parker, Jeffery Parker expressed his discontentment on the decision of the district court. He also proclaimed that Parker will appeal again before the court for it has ruled the verdict as non-infringement.
Retrogress of Parker’s stock price
The volume traded on Monday multiplied by 7 times to its three months daily average and witnessed a decline of 61.8% on its mean standing. The company now holds a market stock price of $1.91, and this is supposed to be the biggest intraday drop since 1993.
The U.S. district judge, Roy B speculated that the witnesses placed by Parker were highly insufficient for the company to seize the victory and the evidences proved to be non infringement for the jury. He also stated that if an apex court disagrees with the district court’s decision then Qualcomm must indeed be rewarded with a new trial to embark its stature.
The verdict from the Parker claimed that Qualcomm (NASDAQ:QCOM) had contravened the patented procedures of wireless technology for processing and regulating higher frequency of electromagnetic signals and transforming it to low frequency signal without compensating its factor of de-amplification. The above mentioned process is to make the receiver module of the mobile phones and tablets smaller and thereby optimizing the design. Such design is more powerful, energy efficient and effective in its functioning and also eliminates the cost incurred for its overhaul.
Qualcomm (NASDAQ:QCOM) protested to the above statement and said that it went through its own and unique algorithms of development and improving phase in bring such concepts into practice and never utilized the resources of Parker.