Rambus Stock Jumps After Good Legal News
Rambus (RMBS) shares jumped up more than 15% at one point this afternoon, after a financial analyst predicted the company could garner nearly $1 billion in royalties and damages stemming from various legal battles.
Shares of Rambus Inc. rocketed in morning trading on Wednesday after a financial analyst predicted there could be $936 million in revenue upside for the company, most likely from various lawsuit settlements. The Los Altos, Calif.-based chip interface developer, which is involved in a number of patent infringement and price-fixing lawsuits against Hynix Semiconductor Inc., Micron Technology Inc. and Samsung Semiconductor Inc., had a small legal victory last week when a judge in the U.S. District Court for the Northern District of California threw out Hynix’s request to dismiss the case on grounds that Rambus had allegedly destroyed evidence.
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