Mformation Wins $147.2 Million in Damages from RIM
Earlier this week Nokia added three additional patents to it’s list of alleged patents Research In Motion has apparently infringed upon. If things could not get any worse, RIM has to pay out $147.2 Million in damages to device management developer Mformation Technologies.
The verdict is from a suit that alleged RIM was violating a remote management patent. The damages amount added out to $8 for every BlackBerry that is connected to a BlackBerry Enterprise Server up to a certain point. RIM has yet to respond to the verdict, but it would be likely for them to appeal.
View the verdict in a PDF here.
Research In Motion Receives Verdict in Patent Case Brought by Mformation
WATERLOO, ONTARIO–(Marketwire – July 14, 2012) – Research In Motion Limited (RIM) (NASDAQ: RIMM)(TSX: RIM), a world leader in the mobile communications market, yesterday learned that a jury returned a verdict against RIM in the amount of $147.2 million (USD) in an action brought by Mformation in the U.S. District Court for the Northern District of California. RIM is disappointed by the outcome and is evaluating all legal options. Additionally, the trial judge has yet to decide certain legal issues that might impact the verdict. RIM will await those rulings before deciding whether to pursue an appeal.
RIM has worked hard for many years to independently develop its leading-edge BlackBerry technology and industry-leading intellectual property portfolio, and RIM does not believe that the Mformation patent in question is valid.
About Research In Motion
Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. Today, BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe, Asia Pacific and Latin America. RIM is listed on the NASDAQ Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.rim.com orwww.blackberry.com.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to RIM awaiting certain rulings from the trial judge before deciding whether to pursue an appeal, and RIM’s belief that the Mformation patent in question is not valid. The terms “will”, “believe” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances. Many factors could cause RIM’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the “Risk Factors” section of RIM’s Ann ual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on RIM’s forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.