NEW YORK (
shares fell 1.8% to $373.30 in pre-market trading Thursday, following the departure of mobile ad exec Andy Miller. Miller, who joined the company through its acquisition of
, will join venture capital firm Highland Capital Partners.
shares sank 1.9% to $2.64 as the company explores a patent sale, according to
The Wall Street Journal
. Kodak's patents could be attractive to tablet makers, company CEO Antonio Perez told the
The struggling imaging company is looking to cash in around a patent frenzy that has
board member William Hambrecht resigned from his seat on Wednesday
. Hambrecht, who was put on the board by activist investor Carl Icahn, was the co-founder of the investment bank Hambrecht & Quist.
is the focus of a new patent lawsuit by social gaming company
, which said the
maker has violated two of its patents. The lawsuit
, which could value the company at $11.5 billion.
Valuations for start-ups rose in the second quarter of 2011, as the number of "up" rounds -- where a company takes money at a higher valuation than the previous round -- exceeded "down" rounds, according to a new study by Silicon Valley law firm Fenwick & West. This marks the eighth consecutive quarter in which up rounds have surpassed down rounds, meaning valuations are continuing to increase to pre-recession levels.
--Written by Olivia Oran in New York.
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