FTC Dismisses Suit Against Rambus

Updated from 9:12 a.m. EST

Rambus(RMBS) scored a major win late Tuesday when the Federal Trade Commission dropped an antitrust suit against the company.

Early Wednesday, Rambus shares were recently up $8.70, or 34.5%, to $34.54.

The government's suit had contended that in the early 1990s, Rambus manipulated an industry group into adopting semiconductor standards for chips on which it already had patents pending.

In a statement, Rambus general counsel John Danforth called the dismissal of the suit "a fundamentally important step for Rambus as we seek to be fairly compensated for the use of our intellectual property."

In separate court cases, Rambus, which licenses intellectual property used in memory chips, has been battling to get major memory manufacturers such as Micron(MU) and Infineon(IFX) to pay royalties to it.

Micron spokesman Dave Parker said the latest ruling should have no effect on its own litigation against Rambus in a Delaware court.