Thursday, May 12, 2005
Mistrial Is Declared in FindWhat.com Case - Forbes.com: "Online search firm FindWhat.com Inc. said Thursday that a judge declared a mistrial after a jury was unable to reach a verdict in its patent dispute with Yahoo Inc.'s Overture Services unit.
The company noted that a hearing on whether the patent is unenforceable because of 'inequitable conduct committed by Overture,' as well as on other motions, is scheduled for June 24.
'We continue to believe that FindWhat.com has never infringed any valid and enforceable claim of the '361 patent,' Craig Pisaris-Henderson, FindWhat.com's chairman and chief executive, said in a statement.
Overture, which Internet giant Yahoo acquired in late 2003, became a high-profile Web firm after developing a system that displays paid advertising links after certain words are entered in a search-engine query.
Shortly before its initial public offering last August, rival Google Inc. handed over 2.7 million shares - then worth about $300 million - to settle allegations that Google illegally copied Overture's technology.
FindWhat.com shares surged in early trading, climbing 35 cents, or 8.3 percent, to $4.20, while Yahoo shares rose 12 cents to $35. Both trade on the Nasdaq. FindWhat.com's stock recently hit a 52-week low of about $4. "
The company noted that a hearing on whether the patent is unenforceable because of 'inequitable conduct committed by Overture,' as well as on other motions, is scheduled for June 24.
'We continue to believe that FindWhat.com has never infringed any valid and enforceable claim of the '361 patent,' Craig Pisaris-Henderson, FindWhat.com's chairman and chief executive, said in a statement.
Overture, which Internet giant Yahoo acquired in late 2003, became a high-profile Web firm after developing a system that displays paid advertising links after certain words are entered in a search-engine query.
Shortly before its initial public offering last August, rival Google Inc. handed over 2.7 million shares - then worth about $300 million - to settle allegations that Google illegally copied Overture's technology.
FindWhat.com shares surged in early trading, climbing 35 cents, or 8.3 percent, to $4.20, while Yahoo shares rose 12 cents to $35. Both trade on the Nasdaq. FindWhat.com's stock recently hit a 52-week low of about $4. "
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