TiVo Takes Round in Suit
TiVo
(TIVO) - Get Report
rose Thursday after a federal court in Texas turned down
EchoStar's
(DISH) - Get Report
request to move a patent lawsuit out of state.
The U.S. District Court for the Eastern District of Texas denied motions to dismiss and transfer the suit out of Texas on grounds that two of the defendants, which including EchoStar and various subsidiaries, weren't subject to the court's jurisdiction.
As a result, jury selection is scheduled to begin this fall. TiVo claims EchoStar products are infringing a patent it owns that covers various features in digital video recording, including a method for recording one program while playing back another and a method for pausing live television.
EchoStar was also being pressured by a report on
Bloomberg
saying the company is running an internal accounting probe into supplier transactions and consultant payments to a friend of the CEO. The story quotes people familiar with the situation.
Recently, the stock was down $2.09, or 7%, to $28.50. TiVo rose 7 cents to $4.23.