Shares of memory technology maker Rambus (NASDAQ: RMBS) soared on Tuesday after anti-trust authorities delayed an order to that would have required the company cut royalty rates on its key patents.
Shares of Rambus rose 6.15 percent in late afternoon trading on the Nasdaq Stock Market, rising $1.22 cents to reach $21.05.
The Federal Trade Commission recently imposed limits to royalties the company could collect on a number of its patents, saying the company unlawfully monopolized memory technology markets.
THE FTC granted a stay on Tuesday, however, pending an appeal from Rambus.
The decision to grant a limited stay of our final order is a difficult one, the decision reads. Undoubtedly, it will entail some harm to the public interest by allowing Rambus to continue to collect monopoly (fees) during the pendancy of its appeal.
Money collected from royalties will be placed into escrow until the appeal concludes.