RIM investors fear over NTP suit
Nov 05 - 10:07 PM ET | Research In Motion
Investors in Research In Motion sold shares today amid fears of a negative ruling in RIM's ongoing legal battle with NTP. Shares [RIMM] tumbled $10.33 on high volume to $77.75, a loss of 11%.
Closely held U.S.-based patent holding company NTP successfully sued RIM in 2002 for patent infringement, a ruling that RIM has appealed. A U.S. court last year issued an injunction banning BlackBerry sales in the United States, but stayed that injunction pending the outcome of the appeal.
The appeal was heard on June 7 by three judges on the U.S. Court of Appeals for the Federal Circuit.
While no one knows exactly when the ruling will come, many expect it any day. MobileTracker has covered this case before--the last big news was over a year ago. As a part of the stay, RIM must hold 8.55% of its US sales as a possible royalty payment to NTP.
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