Shares of ParkerVision (NASDAQ: PRKR) are down 17% following the company’s early announcement that it is filing a motion to terminate its International Trade Commission (ITC) investigation in light of a recent ruling by the Administrative Law Judge (ALJ) disallowing key factual evidence in the company’s proceedings. The company was informed of this confidential ruling just prior to the start of the ITC hearing, which is scheduled to begin today. ParkerVision stated that it remains prepared to try its case based on evidence obtained in the investigation, however, the recent ruling excluding material portions of the company’s evidence resulted in the company’s decision to no longer proceed with its case before the commission. “While we are disappointed that we were not allowed to present key evidence that could significantly impact the outcome of this case, we believe the termination of these proceedings is the appropriate strategic decision for the company. Our objective to obtain fair compensation for Qualcomm’s infringement of our patent rights remains unchanged, and we will continue to take steps toward pursuing this goal,” CEO Jeffrey Parker stated in the news release.
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About ParkerVision
ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies that enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the company’s solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. For more information please visit www.parkervision.com.
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