This fund run by a SAC Capital alum bought restaurant stocks amid the pandemic
Prentice Capital Management was up 6.6% for the first four months of the year, compared to the S&P 500's 9.3% decline and the Russell 2000's 21.1% decline. The HFRX Equity Hedge Index was down 9.4% for the quarter. Q1 2020 hedge fund letters, conferences and more Gross and net exposures In his first-quarter letter to […]
Rockstar Consortium is suing Google Inc (NASDAQ:GOOG), Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930), HTC Corp (TPE:2498), among other companies over patent infringements. The company Rockstar is owned jointly by Apple Inc. (NASDAQ:AAPL), Ericsson, Sony Corporation (NYSE:SNE) (TYO:6758), and BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB). These companies are targeting Android manufacturers.
Google lost the bid wars
Back in 2009, Rockstar acquired thousands of Nortel patents for $4.5 billion after the company went under in 2009. Google Inc (NASDAQ:GOOG) lost the bidding war.
The lawsuit claims that Google Inc (NASDAQ:GOOG) infringed on seven internet search terms match-ups for relevant advertising. This patent infringement scuffle is one of many such battles throughout the world. Technology companies are vying for the number one spot in this competitive market. Android is making strides in the market all thanks to Samsung’s line of Galaxy smartphones.
During the third quarter of 2013, Android accounted for 81.3% of total smartphone shipments. BBC News added, “This week, Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V), whose mobile devices division is being bought by Microsoft, won a patent victory over HTC Corp (TPE:2498) that could see the Taiwanese company’s HTC One smartphone being banned from import into the UK. And earlier in October, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) offered to stop taking rivals to court over alleged patent infringements for a period of five years, after European Union authorities said the South Korean company’s litigious actions were stifling competition. Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) faced a potential £11.3bn ($18.3bn) fine if found guilty of breaching European anti-trust laws.”
Motorola Mobility (now owned by Google) was accused of the same thing.
Patent fights keep better technology out of consumers’ hands
According to some tech experts, these ongoing courtroom battles are a bad thing for tech consumers. Steve Wozniak (co-founder of Apple) shared his thoughts in a recent interview with BBC Click. During the interview, he said he wished Apple Inc. (NASDAQ:AAPL) would use some of the features found on Samsung phone on the iPhone. He further stated that cross-licensing would be a good idea as it would share the technology and make the products better.
For now, we can expect courtroom litigation to continue.