Verifone (PAY -6.6%) slumps after receiving an unfavorable verdict in a patent-infringement suit...

|By:, SA News Editor

Verifone (PAY -6.6%) slumps after receiving an unfavorable verdict in a patent-infringement suit filed against it by privately-owned Cardsoft. A jury ruled VeriFone owes Cardsoft a royalty of $3/unit on payment systems that are deemed to be infringing on the latter's IP. Though appealing the ruling, VeriFone is taking a $17.6M charge on account of it, and says its annual EPS will be impacted by $0.02 if it has to pay royalties on future sales.