Tessera Technologies plunges on rejected patent
Tessera Technologies, Inc. (Nasdaq: TSRA) shares are plummeting after the U.S. Patent Office rejected a patent by the developer of miniaturization technologies after a reexamination. Siliconware Precision Industries (Nasdaq: SPIL), a Taiwan-based packager of semiconductors, contested Tessera’s patent.
“An initial, non-final office action in an ex parte reexamination is not a final decision and should not be characterized as such,” Tessera CEO Bruce McWilliams said in a statement. “We are one year into the process and just received the first office action on the ‘627 patent. We believe in the strength and validity of our battle-tested patents and will continue to vigorously defend them.”
McWilliams said it is “not unusual” for the Patent Office to preliminarily reject a patent claim. Tessera noted that its quarterly guidance does not include “settlements from the company’s current enforcement actions.”
At closing, TSRA shares were down 38.99%, or $8.99, at $14.07. Over the last 52 weeks, shares have ranged from $11.11 to $46.43.
