Research in Motion and NTP settlement denied

1 Dec 2005 | BlackBerry , RIM | 0 comments


Bad news for Research in Motion once again. The $450 million settlement reached earlier this year by Research in Motion and NTP, the two companies that have been involved in a patent infringement case for more than four years, was denied today by U.S. District Judge James Spencer.

Another hearing will be set up to decide whether Research in Motion can cotinue importing and selling the Blackberry in the US. Also, RIM stocks went down $3.79 to $61.13 today afternoon.

"I don't think RIM wants to take it all the way to an injunction, so the likelihood is that they are going to settle before that happens, said Kona Shio, an analyst with research firm Conscius Capital Partners in Montreal. It is estimated a new settlement could cost as much as $1 billion."