Wednesday, March 16, 2005

WSJ.com - RIM to Pay $450 Million To Settle Patent Suit

WSJ.com - RIM to Pay $450 Million To Settle Patent Suit: "Research In Motion Ltd., the Canadian maker of BlackBerry wireless e-mail devices, said Wednesday it will pay $450 million to resolve litigation with NTP Inc., a company that said the devices infringed on in its patents.
Wall Street responded positively to the news, sending shares of Research In Motion soaring 18% to $78.83 in early trading Wednesday on the Nasdaq Stock Market. The stock has rallied 30% since talk of possible settlement surfaced earlier this week.
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... Research In Motion's cash and equivalents are about $1.73 billion, leaving the company with $1.28 billion following the settlement. This is "still a very substantial war chest by anyone's estimate," he said."
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