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• Star Scientific Surges After Reynolds Suit Is Revived (Update2)  

Star Scientific Inc. rose the most in seven years after a U.S. appeals court revived the company's patent lawsuit against Reynolds American Inc.'s R.J. Reynolds Tobacco over a formula for reducing carcinogens in tobacco.

Star climbed $1.09, or 65 percent, to $2.76 in Nasdaq Stock Market trading, valuing the Petersburg, Virginia-based company at $254 million. The gain was the biggest since April 2001 and the closing price was the highest since Jan. 18, 2007. More than 7.25 million shares changed hands, 20 times the three-month daily average.

The U.S. Court of Appeals for the Federal Circuit in Washington ruled today that a judge was wrong to find two Star patents unenforceable and invalid, saying the decision was ``based on factual findings that we deem clearly erroneous.'' The panel sent the case back for review to determine whether the patents are infringed or invalid on other grounds.

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