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TiVo (Nasdaq: TIVO) lost over 40% of its value after a U.S. Court of Appeals vacated an earlier ruling in a patent case. Now, Dish Network Corp. (Nasdaq: DISH) and EchoStar Corp. (Nasdaq: SATS) are allowed to have their case heard again. The action in TIVO over the past few months is exactly what it looks like to gamble on the legal system:

Disclosure: No position