Qualcomm pays ParkerVision USD173-million in patent lawsuit

Chipmaker ParkerVision Inc <PRKR.O> said a jury awarded it damages of $173 million from Qualcomm Inc <QCOM.O> for infringement of its patents but its shares fell nearly 60 percent as it had sought damages of nearly $500 million.

ParkerVision was unable to prove that Qualcomm wilfully infringed its patents, which would have resulted in damages being increased by up to three times.

ParkerVision’s shares soared about 75 percent on October 17 after the jury in a federal court in Florida found Qualcomm guilty of infringing the company’s patents.

The company said it remained to be seen if the court would grant ParkerVision an injunction against Qualcomm.

ParkerVision’s shares were down 59 percent at $2.91 on the Nasdaq on Thursday. Qualcomm shares were little changed at $66.95.

(Reporting by Chandni Doulatramani and Aditya Kondalamahanty in Bangalore; Editing by Don Sebastian)

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Qualcomm pays ParkerVision USD173-million in patent lawsuit