for record holders as of, I believe, either May 3 or 4 -- one of those dates was the Markman. The share buyback was announced at the same time as the divy -- in either the last 10k or 10q.

Coincidence? Could be. As I recall the May 3/4-record divy was also increased to double what it had been -- although, at something like a penny/shr, that's not much.

Also, on the topic of buying out the MMP (mentioned by SGE, I believe), remember that the entity is known as Phoenix Digital Solutions and, as such, I imagine it could be bought as a stand-alone entity, leaving Alliacense intact, TPL intact and PTSC intact, with TPL and PTSC sharing in the proceeds AFTER legal fees (which takes care of TT&C in a nice way, too.).

FWIW, I also agree with opty that the Texas lit. lasts as long as ARM wants. After all, if they (or someone else) were considering settling/buying Phoenix Dig., why not wait until they get a pivotal ruling of some kind? They might not even wait for a trial, preferring to take a decisive Markman ruling as a good entry point cash-wise for settlement, and then do any future licensing of the MMP themselves. having gotten this far in the litig. process, they'd be a leg up on the competition without hazarding any unforseen pitfalls at trial.

jmo.