Sony Shares Down On New Lawsuit

Shares of Sony Corporation SNE are down over 1% in pre-market trading on news that Tessera has filed a lawsuit against the company. Tessera Technologies is suing Sony in the California state court saying Sony breached a contract that called for payment of royalties. "Under our agreement with Sony, we have the right to examine and audit Sony's records regarding amounts due, as we typically have with all our licensees," said Chief Executive Robert Young. At last check, shares of SNE were off 36 cents to $26.85.