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DABOSS

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Settlements and stock prices

posted on Sep 06, 2008 06:29AM

Even though SIRF will likely owe Broadcom money, the stock moves up on rumor of settlements.

I wonder what happens to the pps when a company wins a lawsuit. lol

SiRF stock jumps on rumors of settlement with Broadcom

Silicon Valley / San Jose Business Journal

Shares of SiRF Technology Holdings Inc. were up more than 22 percent Friday on reports that the company could be near a patent infringement settlement with Broadcom Corp.

San Jose-based SiRF (NASDAQ:SIRF) stock closed at $2.57, up 47 cents. The company has a market value of about $150 million. Shares of Irvine-based Broadcom (NASDAQ:BRCM) were flat on a market value of $11 billion.

Last month, an International Trade Commission judge ruled that SiRF infringed on six of Broadcom’s patents for global positioning in cell phones. A final decision is set to be made before the end of the year.

SiRF has seen executive changes and a big drop in its stock price in the past year as a result of the ruling.

A settlement likely would see SiRF pay royalties to Broadcom.

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