Friday, May 13, 2011

Rambus Shares Sink on Court Ruling

Shares of Rambus Inc. (NASDAQ: RMBS) sank more than 15% Friday after a federal court ruled that the technology licensing company inappropriately destroyed documents related to patent cases. The U.S. Court of Appeals for the Federal Circuit vacated Rambus’s victory against memory maker Hynix Semiconductor of Korea, and ordered the trial court to look at whether Rambus destroyed documents in the case. The court also determined that Rambus had destroyed documents in a suit against Micron Technology (NASDAQ: MU). Micron had already won a dismissal of Rambus’s charges because of the latter’s document destruction, but it appears that verdict now is also sent back to the lower courts for review.

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