ParkerVision wins first step in patent lawsuit
A federal jury in Orlando ruled Thursday in favor of ParkerVision Inc. in its patent infringement lawsuit against Qualcomm Inc., opening the door for Jacksonville-based ParkerVision to seeking hundreds of millions of dollars in damages.
ParkerVision said in a news release that the jury in U.S. District Court for the Middle District of Florida found Qualcomm guilty of “direct and indirect infringement of ParkerVision patents.”
The trial is now proceeding to a second phase in which the jury will decide damages.
ParkerVision has said it is seeking at least $500 million in damages and has presented the lawsuit to investors as a significant part of its future.
ParkerVision, which is developing wireless radio technology, has not produced any revenue from its technology for several years.
The company’s stock soared Thursday after the verdict was revealed, rising as much as $2.74 to $6.11, its highest level in five years. ParkerVision closed Thursday at $5.43.
“We are extremely pleased with the jury’s verdict in this case and we look forward to presenting our damages and willfulness arguments over the coming days,” CEO Jeff Parker said in the news release.
“Needless to say, we are very disappointed,” Christine Trimble, vice president of public affairs for San Diego-based Qualcomm, said in an e-mail.
“There is still more to come in this case so we cannot comment further at this time,” she said.
The lawsuit stems from negotiations in 1998 and 1999 for Qualcomm to possibly use ParkerVision’s technology in its wireless products.
ParkerVision alleges that after negotiations fell apart, Qualcomm went ahead and developed products using ParkerVision’s patented technology without compensating ParkerVision.
Qualcomm contended that it determined ParkerVision’s technology “was not particularly novel” and that it could develop products “using a different and reliable approach,” according to court documents.
The trial began Oct. 7, and the case went to the jury Tuesday.