Marvell Dodges Bullet In Patent Suit; Stock Jumps
Fabless chipmaker Marvell Technology Group (MRVL) announced Tuesday that it was ordered to pay $1.54 billion for patent infringement, but its stock hit a two-year high on the stock market today as analysts said it could have been worse. Late Monday, a federal judge beefed up the $1.17 million award originally set in December 2012, after Carnegie Mellon University argued successfully that Marvell had infringed two of its hard-disk drive patents.