TiVo Shares Jump After Trial Date Set With Motorola Mobility
TiVo Inc. (TIVO), the company that popularized digital video recorders, rose 2.1 percent after a judge set a trial date in a case against Motorola Mobility.
TiVo, based in Alviso, California, advanced to $11.55 at the close of trading in New York. The shares have declined 6.2 percent this year.
U.S. District Judge Rodney Gilstrap denied a motion by TiVo to reschedule the patent trial, now set for June 10, according to a posted ruling. The shares rose as investors welcomed the earlier trial date and possible resolution, Alan Gould, an analyst with Evercore Partners, said in an e-mail.
TiVo had sought a delay until August. Its lead trial lawyer, Morgan Chu, is scheduled for an unrelated trial in Nevada in June, and its expert witness on damages is scheduled for a June trial in a drug case in New Jersey, TiVo said in an April 17 filing with the court. Motorola Mobility, in an April 24 filing, said it was ready to begin and had conflicts during the time requested by TiVo.
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