Rovi Slides Most in 3 Years After Litigation Loss to Netflix
This article is for subscribers only.
Rovi Corp., which licenses data for television guides, dropped the most in three years after a judge ruled in favor of Netflix Inc. in a patent lawsuit.
U.S. District Court judge Phyllis J. Hamilton issued a ruling Wednesday granting Netflix’s motion for summary judgment on five of Rovi’s patents, finding them invalid, the company said in a statement Thursday. The patents in question were related to features and functionality provided for over-the-top video service, which has been utilized by companies including Apple Inc., Google Inc. and Hulu LLC, according to the statement.