Small Cap News Movers for 6/3/09

TiVo Inc. (NASDAQ: TIVO) issued a statement today regarding the decision by the United States District Court, Eastern District of Texas, in the lawsuit against EchoStar Communications Corporation. The court awarded an additional $103 million plus interest through April 2008. The company stated, “We are extremely gratified by the Court's well reasoned and thorough decision, in which it rejected EchoStar's attempted workaround claim regarding the TiVo patent, found EchoStar to be in contempt of court and ordered the permanent injunction fully enforced.” The stock closed at $10.70, up 53.30%, on 38,062,095 traded shares.

 

DRI Corp. (NASDAQ: TBUS) announced that its shareholders approved both of the proposals put before them during yesterday’s Annual Meeting of Shareholders at The Westin Galleria Dallas in Texas. These approvals include: Election of all seven directors to serve until the Annual Meeting of Shareholders in 2010 and ratification Grant Thornton LLP as the Company’s auditors for fiscal year 2009. Following the completion and closure of the business meeting, Mr. Turney discussed with shareholders the positive outlook for the Company’s fiscal year 2009. The stock closed at $1.78, up 40.16%, on 808,297 traded shares.

 

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) announced that it has completed a collaboration transaction with Haemacure Corporation (TSX:HAE), a specialty bio-therapeutics company, relating to certain of Haemacure's proprietary fibrin and thrombin technologies, both of which are currently in development. As part of this collaboration, Angiotech has agreed to provide to Haemacure a senior secured bridge financing facility in the amount of $2.5 million, with the option for Angiotech to invest an additional $1 million in the facility. The stock closed at $1.89, up 21.94%, on 12,889,308 traded shares.