RIM shares fall after arbitrator rules against RIM, for Nokia

TORONTO – Research In Motion shares are down again in the wake of reports that it has lost a round in a patent dispute with Nokia Corp.

The European cellphone giant has licensed some of its patented technology to the BlackBerry maker.

However, an arbitrator has ruled RIM breached their agreement and should be prevented from using certain technology unless it reaches a deal with Nokia.

Nokia (NYSE:NOK) says it’s asking courts in Canada, the United Kingdom and United States to enforce the arbitrator’s ruling.

Research In Motion says it won’t comment on litigation before the courts.

RIM’s shares (TSX:RIM) dropped to as low as $10.15 in early trading Wednesday on the Toronto Stock Exchange but recouped some of the loss.

They were down 22 cents, or about two per cent, at $10.48 after 30 minutes of trading.

The stock has given back most of the gains since jumping last week to as high as C$12.09 following relatively positive analyst estimates about the potential of BlackBerry 10, the company’s new operating system.




Browse

Your email address will not be published. Required fields are marked *