BREAKING: BLACKBERRY GOOD NEWS (HA HA HA)
$612 million later, RIM settles with NTP, Blackberries are saved, everyone in DC rejoices:
WATERLOO, ONTARIO--(CCNMatthews - March 3, 2006) - Research In Motion Limited (RIM) (TSX:RIM)(NASDAQ:RIMM) and NTP, Inc. (NTP) today announced that they have signed a definitive licensing and settlement agreement. All terms of the agreement have been finalized and the litigation against RIM has been dismissed by a court order this afternoon. The agreement eliminates the need for any further court proceedings or decisions relating to damages or injunctive relief.
RIM has paid NTP $612.5 million in full and final settlement of all claims against RIM, as well as for a perpetual, fully-paid up license going forward. This amount includes money already escrowed by RIM to date.
Thank god. We were really worried about rich people being slightly inconvenienced there for a minute.
Research In Motion and NTP Sign Definitive Settlement Agreement to End Litigation [RIM via CCN Matthews]