Research In Motion Sales Ltd. won a little but potentially important ruling following a U.S. judge overturned a jury's discovering that RIM had infringed the intellectual property of some other company.
The ruling with a U.S. District Court in Bay Area vacates an award of $147.two million in damages RIM was purchased through the jury to pay for Mformation Technologies Corporation., Waterloo, Ontario-based RIM stated inside a statement.
Edison, N.J.-based Mformation Technologies makes mobile-device-keeper coupled with alleged inside a situation starting in 2008 that RIM infringed on a couple of its patents. In This summer, a jury in Bay Area found in support of Mformation Technologies, a choice RIM becomes a huge hit.
"RIM didn't infringe on Mformation's patent and we are pleased with this victory," Steve Zipperstein, RIM's chief lawyer, stated inside a statement.
Mformation Technologies may appeal the judge's decision. If it is appeal is effective, a brand new trial could be held, the government judge ruled.
RIM's shares have dropped in the last 18 several weeks because the company's U.S. sales withered, and it is are presently while a proper review. While financially small, RIM has about $2 billion in cash with no debt, Thursday's ruling is really a rare victory for RIM and an optimistic sign for this in potential future patent legal cases that are common within the Smart Phone industry.
RIM was buying and selling at $7.71 Thursday around the Nasdaq Stock Exchange.
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