Marvell slips after $1.17B patent verdict upheld

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

U.S. District Judge Nora Barry Fischer has denied Marvell's (MRVL -2.2%) request for a new trial on a Carnegie Mellon infringement suit that yielded a $1.17B jury verdict last December.

Fischer also agreed with Carnegie Mellon's assertion that the jury award should be increased on account of Marvell being guilty of willful infringement. A further opinion will be issued later.

In addition to a bigger award, Carnegie wants Marvell to pay ongoing royalties of $1.50 per infringing hard drive chip; the jury award was based on a royalty of $0.50/chip.

Marvell asserted in an April 12 filing it shouldn't be liable for chips used outside the U.S., and that the verdict should have been no larger than $164.6M.

On its FQ2 CC, Marvell disclosed storage-related sales accounted for 52% of its quarterly revenue.