Disclosure Insight Maintains Medium Risk – Negative Bias on TiVo
D.I. Reports reiterates its Medium Risk – Negative Bias on TiVo Inc. (NASDAQ: TIVO) on patent litigation, turnover at the board, and duties of chairman and CEO held by one person.
According to D.I., “In Aug-09, TIVO filed a lawsuit against AT&T and Verizon alleging that they infringe on 3 of its patents. Verizon filed a counterclaim in Feb-10 alleging that TIVO infringes on 5 of its patents. The matter appeared ongoing as of the 10-Q filed 9-Sep-11. In addition, the company is involved in a lawsuit filed by Microsoft alleging that it infringes on 7 of the plaintiff's patents. The litigation has been stayed pending a U.S. Patent and Trademark Office re-examination of the patents in question. The International Trade Commission is also conducting an investigation into Microsoft's claims. Patent infringement litigation filed by AT&T and Motorola Mobility appeared ongoing as of the 10-Q filed 9-Sep-11. There have been 7 director departures since Aug-07. The chairman role is functionally combined with that of CEO Tom Rogers.”
TIVO closed at $11.24 per share, up 0.99 percent on Tuesday.
