David Einhorn Feels Pinch As Marvell Technology Drops 11%

David Einhorn is not having a good day after Christmas. One of his top holdings, Marvell Technology Group Ltd. (NASDAQ:MRVL), had a major ruling against it earlier today in a patent case. The ruling found the company responsible for patent infringement and liable for more than $1 billion in damages.

The case, which was argued in a U.S. District court, was brought by a professor at Carnegie Mellon University. The professor, Jose Moura, alleged that products sold by Marvell Technology Group Ltd. (NASDAQ:MRVL) infringed on patents he held in the United States.