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In Setback To RIM, Judge Rules That Its Patent Dispute Settlement Is No Longer Valid.(INTERNET & TECHNOLOGY)
Byline: MIKE ANGELL
A federal judge Wednesday refused to enforce a $450 million settlement reached by Research In Motion in March over a patent dispute, casting a pall on the company's future.
The decision sends the maker of the BlackBerry e-mail device back to the bargaining table with NTP, a Virginia-based company that holds patents for wireless e-mail technology. The decision also raises the risk that RIM could have to pay a larger settlement. And a judge could order RIM to shut down its wireless e-mail network, which serves some 4 million customers.
U.S. District Judge James Spencer also refused RIM's request to delay further settlement talks until it appealed the case.
At the time of the March settlement, many investors hoped RIM had finally ended its four-year dispute with privately held NTP. But RIM dragged its feet in carrying out the settlement, says NTP Chief Executive Don Stout. So NTP sought to have the deal voided.
"We're pleased with the decision," Stout said. "We had no contract with RIM, and the judge agreed. We felt the case should not be delayed any longer."
RIM shares fell 6% to 61.13 in trading Wednesday.
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...million. In return NTP has granted RIM a license which will enable RIM to continue its BlackBerry-related wireless business. Donald E. Stout, NTP's co-founder, said...reached an amicable settlement with RIM. We believe that the settlement...
