Marvell (MRVL -6.6%) dives after being ordered by a jury to pay $1.17B in damages in a patent...

|About: Marvell Technology Group, Ltd. (MRVL)|By:, SA News Editor

Marvell (MRVL -6.6%) dives after being ordered by a jury to pay $1.17B in damages in a patent suit, the WSJ reports. The chipmaker has been sued by Carnegie Mellon over a patent allegedly infringed by its hard drive controllers. Marvell (current market cap of $4.15B), which has been claiming prior art, will undoubtedly appeal, and probably see that damages figure reduced by a judge.