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Investing

RIM Losses Patent Case to Mformation

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By Douglas A. McIntyre Updated Published

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Research In Motion (NASDAQ: RIMM) lost a crucial patent case to Mformation on Friday. Damages levied after the trail in the U.S. District Court for the Northern District of California were $147.2 million.

RIM impresses many investors and smartphone experts as a lost cause headed for a breakup, sale or Chapter 11 filing. Once the leader in the smartphone industry, it has lost that ground to Apple (NASDAQ: AAPL) and an army of Google (NASDAQ: GOOG) Android-based phones.

RIM tried to spin the news as something less than disaster:

Research In Motion Limited (RIM) (NASDAQ: RIMM), 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.

Like most of the company’s PR meant to make it appear as a viable company, this will not work.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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