VOLUME ALERT: Tivo Inc. (TIVO, DISH)

Posted in General 
July 2nd, 2009

Tivo Inc. (Nasdaq: TIVO) shares are down 14 percent to $9.25 as of 11:30 a.m. Eastern on volume of 3.6 million shares, about 1.4 times its average daily volume, after a federal judge’s handed the company a setback in its long-standing patent dispute with rival Dish Network Corp (Nasdaq: DISH).

The U.S. Court of Appeals for the Federal Circuit issued a stay on an injunction that would have kept Dish customers from using their digital video recorders while the patent case was ongoing.

Tivo asserted today that it would ultimately win in court.

A federal court last month rejected Dish Networks’ argument that it created a workaround that did not violate Tivo patents. A that time, Tivo was awarded $103 million, in addition ota previous $105 million payment made a year ago. — Mike Tarsala

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