Federal Court Delays Blackberry Injunction
A U.S. judge has scolded Research In Motion Ltd. for refusing to concede defeat in its long-running patent feud over the BlackBerry — but his decision to give the Waterloo, Ont., company one last chance to settle its dispute also sent RIM’s stock higher.
RIM shares shot up over $90 yesterday before closing at $84.99, up 6.2 per cent on the Toronto Stock Exchange, after U.S. District Court Judge James Spencer postponed a decision to shut down more than three million BlackBerrys across the United States. The stock had lost nearly 20 per cent of its value Thursday amid concerns Judge Spencer would slap an injunction on the Canadian tech company.
The delayed decision appears to be part of a last-ditch effort by Judge Spencer to coax RIM and its rival, patent holding company NTP Inc., into a deal.
Barrie McKenna and Paul Waldie. Judge Gives RIM One Last Chance. Globeandmail.com. Feb. 25, 2006.
Barrie McKenna. Judge James Spencer. Globeandmail.com. Feb. 23, 2006.
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