TeleCommun Systems, RIM Reach Standstill Pact on Patent Suit
Telecommunications Systems reached a standstill agreement with Research in Motion that enables the companies to reach a settlement of outstanding litigation and temporarily suspend legal proceedings.
A representative of Research in Motion couldn't be immediately reached for comment.
Telecommunications Systems, an Annapolis, Md., computer-software company, filed suit against Research in Motion Dec. 20, alleging the company infringed on patents that allow a wireless user to access and manage multiple email accounts.
The standstill agreement gives Telecommunications Systems and Research in Motion, a Waterloo, Ontario, wireless products and services company, until June 12 to reach a settlement.
Telecommunications Systems said the standstill agreement calls for the patent infringement lawsuit to be dismissed without prejudice.
Shares in Telecommunications Systems were down 14 cents, or 3.8%, to $3.52 in recent trading. Shares of Research in Motion were up 28 cents to $116.13.
-Adam O. Manzor; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 14th April 2008
