The Chancer strikes again …
It never rains but pours. If it’s not bad enough that Research in Motion’s [RIM's] share price has plummeted by 70 per cent in the past year, now comes the shock news that it may have to pay $147.2 million in patent damages.The ruling comes from a Northern California jury which found that RIM infringed the remote management system wireless patents of Mformation Technologies. [See here].
RIM, as might be expected, is expected to appeal the judgement on the basis that the processes in dispute were already being used before Mformation’s filed its patents.
The jury heard the evidence for four days this week before deciding but the verdict, if upheld, could mean RIM paying a whacking $8 royalty for every BlackBerry device connected to RIM’s enterprise server software.
On close of play at Nasdaq yesterday [July 13th 2012] RIM’s share price had fallen by another 2.36 per cent to a mere $7.25.