RIM Nailed With $147.2 Million Verdict In Patent Lawsuit

Well, that's not good. As if Research in Motion really needed any more bad news, the BlackBerry handset maker is now dealing with a massive $147.2 million verdict. Late in the week, a NorCal jury directed RIM to cough up the aforementioned sum in order to settle up in a patent lawsuit. The suit was brought by Mformation Technologies, and the litigation was involving a "remote management system for wireless devices." There's really never a good time to hear that you owe someone nearly $150m, but it's super, super poor timing for RIM.

The company's stock has sank like a stone in recent months, and recently they announced that it'd be 2013 before a BlackBerry 10 device would ship. Based on the verdict, RIM would need to pay Mformation $8 for every BB phone connected to the company's enterprise server software, though this particular verdict only covers U.S. sales. RIM is reportedly working to overturn the verdict, but news like this isn't apt to help its stock price.


Could a company once on top of the smartphone universe get a break in the next six months? They'll need one if they aren't able to turn this one over...
Via:  Reuters
Comments
realneil 2 years ago

I wonder if they have the cash to spend on this?

shadizzle 2 years ago

That really is a shame to hear, I hope they have the extra cash, or try to work out some sort of agreement with Mformation.

karanm 2 years ago

Definitely bad news, I doubt they have the money. I have a feeling we might not see Blackberry 10.

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