SEO

Overture (Yahoo) VS FindWhat – Mistrial

Overture (Yahoo) VS FindWhat – Mistrial

Huge news for the beaten down FWHT stock, which was recently down to 4.07 from it’s 52 week high of 23.94, gained about 10% on the day.

“A judge declared a mistrial in a patent infringement lawsuit between Yahoo Inc. and FindWhat.com Inc. after a jury failed to reach a decision on all of the issues in the case, FindWhat.com said on Thursday.”

In a note to clients on Wednesday, RBC Capital Markets analyst Jordan Rohan said the most likely outcome of the case would be a modest out-of-court settlement. He estimated that FindWhat could settle the case for around $7 million to $8 million.

Rohan said some investors had worried that a ruling against FindWhat in the case could wipe out the majority of the company’s $50 million cash balance.

Most of the second tier search stocks are fading into irrelevance. Maybe this will help FWHT hang on a little longer. Also noted eariler today:

FindWhat.com noted the judge has yet to rule on the issue of whether the patent is unenforceable because of inequitable conduct committed by Overture. A hearing on the inequitable conduct issue and other motions that could impact the ultimate outcome of the case is currently scheduled for June 24, 2005.

photo Overture (Yahoo) VS FindWhat   Mistrial
Aaron Wall, Search Marketing / SEO Coverage and Rants - Aaron Wall is one of the most vocal search engine marketers in the business and he has channeled his thoughts and expertise into his widely popular eBook, SEObook.