This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RJ Reynolds Wins Patent Fight With Star Scientific

The Associated Press

A federal jury ruled on Tuesday that RJ Reynolds Tobacco Co. did not infringe on two patents claimed by Star Scientific for a tobacco-curing method. Star Scientific shares lost nearly 80 percent of their value in late trading.

Both companies said the jury in Baltimore found that the patents were invalid.

Star Scientific sued RJ Reynolds, a unit of North Carolina-based Reynolds American, in 2001 over a method of treating tobacco to prevent the formation of tobacco-specific nitrosamines.

In March, the Supreme Court refused to hear the case, clearing the way for the trial that led to Tuesday's verdict in U.S. District Court in the Northern Division of Maryland.

Petersburg, Va.-based Star Scientific said it would ask the district court judge to rule in its favor as a matter of law or for a new trial. Failing that, it said it would file a notice that it intends to appeal to the U.S. Court of Appeals.

Shares of Star Scientific Inc. closed at $4.21 before the verdict, but fell $3.33, or 79 percent, to 87 cents in late trading.

Reynolds American shares fell 22 cents to close at $36.33, then rose 71 cents to $37.04 after the verdict in after-hours trading.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
STSI $0.21 3.14%
AAPL $113.29 0.00%
FB $91.01 0.00%
GOOG $630.38 0.00%
TSLA $248.48 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs