A federal court Feb. 29 dismissed a patent infringement lawsuit brought by the former operator of historical racing at Kentucky Downs against the new operator.
Prairie Meadows is suing track announcer Ken Miller over the patent rights to a "Pick 5" wager Miller conceived and the track plans to offer. The tug-of-war has created such a strain that the Iowa racetrack and casino has suspended Miller, who has called races there since 1989.
Gemstar-TV Guide International, the parent company of the TV Games Network, lost 39% of its value Monday in a frenzy of selling. Investors reacted to a ruling June 21 that Gemstar's patents for an interactive television program guide have not been infringed by competing products.
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.
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