Bright Side of News reports Rambus has lost its infamous patent case against Micron and Hynix:
Yesterday, Rambus Inc. lost a long fought legal battle filed against Micron and Hynix by the company in 2004. The San Francisco jury decided 9-3 against Rambus after deliberating a near record of more than eight weeks on their decision.
Rambus lost 61% of its market value, to less than 800 million dollarsRambus' stock, halted in anticipation of the court action, fell more than 60% of its market value on the decision (today, it saw a 15% recovery). It's been a very bad day for Rambus aficionados.
Rambus accused Micron and Hynix of violating antitrust laws in that they purposely sold Rambus DRAM at elevated prices while conspiring to sell DDR2 SDRAM at depressed prices to deprive Rambus of their rightful place in the cash flow hierarchy - claiming direct damages to the tune of just under $4 Billion. Under California law, this can easily triple, and, along with the asked for punitive damages, bringing the grand total to somewhere around $20 Billion.
After the news came on on Wednesday, Rambus shares closed 61 percent lower at $7.11. At press time the stock has retraced some of its losses, it's up 23.77 percent to $8.80.