Trading was heavy again on Gemstar-TV Guide International Tuesday, but the media and technology company that lost 39% of its stock value Monday ended the day with a small gain.
Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Gemstar-TV Guide stock plunged Friday after a report released two days ago said the company may have engaged in "patent misuse" and that its on-going patent infringement lawsuit may be groundless.
Gemstar-TV Guide International's stock is tumbling this week because of doubts that the company can protect its interactive programming guide patents in a key court case, according to analysts. Gemstar is the parent company to the TV Games Network, a horse racing network and interactive wagering service.
Most Popular Stories
- Ben's Cat Faces Tough Task in Fabulous Strike
- Cigar Mile Stakes Card Fields Taking Shape
- Wild Again Still Impacting the Breeders' Cup
- Indiana Reports Multiple Medication Sanctions
- Median Rises at Goffs Breeding Stock Opener
- JJ and Anna and Their Long Journey Together
- Suffolk Eyes Simulcast License for Next Year
- Broadcaster Edwards to Emcee Eclipse Awards
- Moore, Ortiz Line Up for HK Jockey Battle
- Monmouth, Atlantic City Granted 2015 Dates