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Stratagene Shares Dive 8.6 Percent After Judge Trebles Damages in Invitrogen IP-Infringement Verdict

Nov 01, 2006
NEW YORK (GenomeWeb News) — Shares in Stratagene were down 8.6 percent, or $.59, at $6.24 in mid-afternoon trading today after a judge ordered the company to pay $16 million in damages to Invitrogen for willfully infringing one of its patents.
 
Separately today, investment bank Robert W. Baird downgraded Stratagene’s stock to ‘Underperform’ from ‘Neutral.’
 
Stratagene said it would appeal the damages, which are triple what a jury originally awarded Invitrogen, and challenge the validity of Invitrogen’s patent at the center of the suit. 
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