October 23, 2012 by MassDevice staff
Shares of Volcano Corp. near a 52-week high on their way to gaining 7% on Wall Street, after the medical device company logs a legal win over St. Jude Medical in a patent spat over heart measurement technology and a 2nd trial gets underway.
UPDATED 11:00 a.m. Oct. 23, 2012, with new Volcano product launch.
Volcano?(NSDQ:VOLC) shares jumped 7% yesterday after it won the 1st of 2 lawsuits against St. Jude Medical?(NYSE:STJ), as the 2nd trial gets underway in Delaware.
St. Jude sued Volcano in July 2010 in the U.S. District Court for Delaware, accusing it of violating a quintet of patents St. Jude acquired in its 2008 buyout of Radi Medical Systems AB, a Swedish guidewire maker.
In the 1st trial, a Delaware jury ruled that 2 Volcano patents for fractional flow reserve technology don't infringe St. Jude Medical and that 2 St. Jude patents are invalid.
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The news sent VOLC shares up 12.3% yesterday to a near-52-week high of $30.15 on heavy volume, before prices subsided to a $28.74 close, for a 7.0% gain on the day. VOLC shares were trading at $28.41 as of about 10:45 this morning, down 1.2%.
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Source: http://www.massdevice.com/news/volcano-gains-7-legal-win-over-st-jude-medical-2nd-trial-begins
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