RIM hit with $147.2 lawsuit verdict at 'worst time,' analyst says | iNFOnews | Thompson-Okanagan's News Source
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RIM hit with $147.2 lawsuit verdict at 'worst time,' analyst says

The Canadian flag flies in front of the Research In Motion (RIM) company logo on one of their buildings in Waterloo, Ont., on June 29, 2012. A northern California jury has ordered Research In Motion to pay $147.2 million in a patent lawsuit, the latest setback to hit the BlackBerry maker. THE CANADIAN PRESS/Dave Chidley

A northern California jury has ordered Research In Motion to pay $147.2 million in a patent lawsuit, the latest setback to hit the BlackBerry maker.

The Waterloo, Ont.-based company was fresh out of a tumultuous annual general meeting when the verdict came down Friday in the suit over a remote management system for wireless devices.

A technology analyst says the decision comes at the worst time for RIM (TSX:RIM), which reported a first quarter loss and delayed the release of its much-hyped BlackBerry 10 operating system until next year.

Carmi Levy says the case will have a significant "fiscal and psychological impact" on the technology giant, already targeted by critics and grumbling shareholders.

Levy says fighting the verdict — a move RIM says it is considering — will divert key resources the company should be using to refocus and get back on track.

Research In Motion says it is "disappointed" the jury sided with the Delaware.-based Mformation Technologies and is "evaluating all legal options."

Shareholders at the annual general meeting this past week expressed their frustration and some pushed for a major shakeup of the company's board of directors.

News from © The Canadian Press, 2012
The Canadian Press

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