ParkerVision Inc (OTCMKTS:PRKR) on August 19, 2022, announced filing an appellate brief with the United States Court of Appeals for Federal Circuit. The company has appealed the final judgment and several dispositive rulings done by the District Court for Middle District of Florida in ParkerVision v. Qualcomm.
Trading Data
On Friday, PRKR stock fell 5.41% to $0.18 with more than 78K shares, compared to a volume of 51K shares. The stock moved within a range of $0.1800 – 0.2020 after opening trade at $0.20.
ParkerVision Files Its Appeal in ParkerVision v. Qualcomm
The company asserts that the claims at issue in the case are significantly different and points out that the district court ruled for ParkerVision in January 2020. In the judgment, the court denied Qualcomm’s 2019 motion for summary judgment. The firm thus highlights that the 2022 motion fails to acknowledge the previous decision.
Jeffrey Parker, Chairman and Chief Executive Officer of ParkerVision said that after eight years to get the case to a jury, it is hard to find the words on expressing disappointment in the district court’s rulings. Parker added that the appeal brief is validation and demonstrates the facts and arguments presented in the brief.
Key Quote
“We all know the jury isn’t going to follow 99 percent of what you all are talking about in this trial. Right? We all know that. They’re going to come up with a rough idea of who deserves to win, but with the nuances of a patent case, there’s no way a jury understands this… which is why this shouldn’t be tried to a jury, in my opinion. They will never understand. This should be PTAB 100 percent. We should be out of it, but that’s how it is.”
ParkerVision Reports Second Quarter 2022 Results
ParkerVision Inc on August 10, 2022, announced results for the three and six months ending June 30, 2022.
Jeffrey Parker, Chairman, and Chief Executive Officer said that the firm continues to prepare for trial in Texas against Intel. He further said that the trial date was moved to eight weeks for accommodating an extension of discovery and expert reports. Parker also said that the firm amended the complaint to add willfulness to the infringement claims.
Furthermore, the CEO added that the company expects on filing the appeal brief in the Qualcomm case and believes the brief will explain the Orlando court’s error.
Technical Data
PRKR stock is trading below the 20-Day and 50-Day Moving averages of $0.18 and $0.18 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.52. The company has a total market capitalization of $14.22 million. The stock is down 30% over the past month.
