A jury in U.S. District Court in Pittsburgh Wednesday found that chip designer Marvell Technology Group (NASDAQ:MRVL) had infringed upon two patents owned by Carnegie-Mellon University and ordered it to pay damages of $1.17 billion.


Carnegie Mellon University (CMU) – Master of Arts Management
Well, this is not technically an MBA but nevertheless one of the forerunners among programs combining rigorous finance, marketing and fund-raising coursework with practical experience to prepare students for excellence in a for-profit or non-profit arts environment. Offered at CMU’s Heinz College, the MAM provides an ideal mix of classroom and real world experience. Future Tenant, an art space in downtown Pittsburgh, serves as a working lab for the direct application of the course concepts taught in class. Students can pair the degree with a law degree from the University of Pittsburgh School of Law or with a graduate degree in Innovation and Organization of Culture and the Arts from the University of Bologna, Italy. They even have the option of spending one semester at the University of Bologna in Italy to gain an understanding of cultural policy on an international scale. Graduates are employed in a variety of decision-making roles across functional areas found in arts and cultural organizations as well as related agencies that shape and influence the arts community. Only a few of the prominent recruiters from the program have been The Brooklyn Academy of Music, Chicago Shakespeare Theatre, National Gallery of Art, New York Philharmonic, Samsung Foundation of Culture and even for-profit organizations such as Concert Artists Guild and Johnson & Johnson Ethicon. Photo: Reuters

Marvell, of Santa Clara, Calif., had no immediate comment. Its shares fell as much as 11 percent before closing at $7.40, down 85 cents. The plunge wiped out about $1 billion in market capitalization and lowered the chip designer's value to slightly below $4 billion.


Continue Reading Below

Under trial rules, the damage claims could be tripled if the judgment is upheld on appeal, which is expected. Marvell reported cash and investments exceeding $2 billion when its third quarter ended on Oct. 27.


Carnegie-Mellon sued Marvell last March, claiming the patents were infringed on at least nine integrated circuits it shipped that deal with methods in which data are read at high speeds when stored on a disk drive.


Long a formidable player in computer graphics, Marvell this year moved into supercomputing, with thousands of its chips designed into the Titan supercomputer at the Oak Ridge, Tenn., National Laboratory.