Shares of Pendrell Corp. (PCO) fell 32% today after an 8-person jury in the U.S. District Court for the Eastern District of Texas on Friday found that Apple Inc. didn’t infringe certain claims of five digital rights management patents owned by Pendrell’s ContentGuard Holdings Inc. subsidiary.
Shares of Pendrell fell 25 cents to 53 cents in midday trading. They’ve traded between 52 cents and $1.71 over the past year,
Pendrell said the court upheld the validity of the patents. The company also said it is assessing the jury's findings and evaluating its options to challenge the verdict.
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