Rambus Down 6.5% on Reports of Patent Rejections

Rambus

is trading lower on the session following the report by Reuters on Friday stating that the U.S. government invalidates potent Rambus patent. According to the report, the patent is one of the most valuable intellectual property of the company. According to Reuters, Scott Daniels, a partner in the law firm Westerman, Hattori, Daniels and Adrian stated that "Rambus was unlikely to win an appeal on the third Barth patent, since it would be appealed back to the examiner, who would be highly unlikely to disagree with the higher-ranking appeals board." Rambus is currently trading at $7.45, a loss of $0.52 or 6.51%.