RIM Nailed With $147.2 Million Verdict In Patent Lawsuit

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News Posted: Sat, Jul 14 2012 12:25 AM
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...
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realneil replied on Sat, Jul 14 2012 9:22 PM

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

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Shadizzle replied on Sun, Jul 15 2012 8:18 AM

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.

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karanm replied on Sun, Jul 15 2012 7:30 PM

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

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