Stock to watch: Xperi Corporation (NASDAQ: XPER)

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Xperi Corporation (NASDAQ: XPER) shares lost over 1.9% on October 12th, 2017 (as of 10:13AM EDT; Source: Google finance) following a negative court preliminary opinion. Invensas, which is a subsidiary of Xperi Corporation has issued a statement and gave an update on a nullity proceeding filed by Avago Technologies GmbH, against a patent at issue in Invensas’ legal proceedings against Broadcom Ltd. and certain of its affiliates and distributors in Germany. On October 5th, 2017, the German Federal Patent Court had issued a notice giving its tentative view that the German part of Invensas’ EP 1 186 034 B1 (“ ‘034 Patent”), which is a patent Broadcom has been adjudicated to infringe, may be invalid for various reasons. However, the Court has made it clear that this was not its final decision, but instead was being issued preparation for the oral hearing on 25 January 2018, and has no intention of anticipating the outcome of the oral hearing. The Court’s statement is designed to guide the parties and focus their arguments in advance of the oral hearing. Invensas will make a further submission in response to the Court’s notice on December 6th, 2017.

Moreover, according to XPER, the Court’s reasoning in its preliminary statement is flawed, and the company looks forward to having the opportunity to provide further briefing and arguments at the hearing in January. Further, according to common German legal practice, in response to the preliminary statement, Invensas has voluntarily agreed to be away, at least temporarily, from enforcing the Regional Court of Mannheim’s judgments of infringement of the ‘034 Patent pending the nullity hearing. The company continues to believe the patent is valid and will be upheld at the hearing.

Additionally, the company has added that there will be no impact on the ITC investigation against Broadcom. This is in reference to an Administrative Law Judge’s initial determination that Broadcom broadly infringes another one of Invensas’ patents across all of Broadcom’s significant product lines. The ITC’s final determination is scheduled to be issued on December 1st, 2017,which is well before the German nullity case is ultimately decided

XPER stock has fallen 42.32% in a year (source: Google Finance).

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