Overture 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.

Published: May 13, 2005

New to the site? Join for Free and get over $300 of free SEO software.

Once you set up your free account you can comment on our blog, and you are eligible to receive our search engine success SEO newsletter.

Already have an account? Login to share your opinions.

  • Over 100 training modules, covering topics like: keyword research, link building, site architecture, website monetization, pay per click ads, tracking results, and more.
  • An exclusive interactive community forum
  • Members only videos and tools
  • Additional bonuses - like data spreadsheets, and money saving tips
We love our customers, but more importantly

Our customers love us!






    Email Address
    Pick a Username
    Yes, please send me "7 Days to SEO Success" mini-course (a $57 value) for free.

    Learn More

    We value your privacy. We will not rent or sell your email address.