Lawsuit posts
FeedPosted Dec 23rd 2010 12:40PM by Elizabeth Harrow (RSS feed)
Filed under: Law, Technical Analysis, Garmin Ltd (GRMN)
Thursday morning, GPS specialist Garmin Ltd. (GRMN) said it lost a patent dispute with Japanese firm Pioneer Corp. The District Court of Dusseldorf in Germany found that two patents owned by Pioneer were infringed by a certain functionality in Garmin's software.
However, Garmin says it has already worked out "minor software revisions that eliminate the narrow functionality at issue in the litigation." As a result, the company doesn't expect any significant impact on its ability to import and sell its navigational products.
Continue reading Garmin Slumps After Patent Defeat
Posted Jul 9th 2010 2:30PM by Nikhil Hutheesing (RSS feed)
Filed under: Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Motorola (MOT), AT and T (T), Sprint Nextel Corp (S), Research in Motion (RIMM), Verizon Communications (VZ)

NTP, a Richmond, VA.-based company, has filed lawsuits against Apple (
AAPL), Motorola (
MOT), Microsoft (
MSFT), Google (
GOOG) and others, claiming that they all violate the patents this company holds. NTP, in recent years, has made a business out of suing wireless companies.
The beneficiary? Research In Motion (
RIMM) , whose stock rose 7% on the news.
Continue reading Shares of RIMM Rise as NTP Slaps Competitors with Lawsuits
Posted Apr 4th 2010 10:40AM by Gary Sattler (RSS feed)
Filed under: Management, Law, eBay (EBAY), Tiffany and Co (TIF)
In the 2004 counterfeit goods lawsuit brought against online auction giant eBay (EBAY) by Tiffany & Co. (TIF), a New York appeals court has ruled in favor of eBay. The suit stemmed from an independent investigation conducted by Tiffany, where an investigatory sampling determined that more than 70% of supposed Tiffany items on eBay were found to be fakes. Tiffany maintains that eBay bears responsibility for cleaning out those counterfeit items.
Yes, eBay bears some responsibility in this matter, but that responsibility begins and ends at the removal of offending listings when they are reported or discovered. Any random examination of listings by eBay for potential rule violations or illegal activities falls under the heading of good faith, not due diligence.
Continue reading Court Sides with eBay in Tiffany Counterfeit Case
Posted Mar 3rd 2010 2:20PM by Elizabeth Harrow (RSS feed)
Filed under: SEC Filings, Bad News
Late Tuesday, Synovus Financial (SNV) confessed that it's facing an informal inquiry by the Securities & Exchange Commission (SEC). In a regulatory filing, Synovus disclosed that the SEC is attempting "to determine whether any person or entity has violated the federal securities laws." The financial firm was first informed of the informal investigation in a letter from the SEC dated Dec. 15, 2009.
Synovus said it intends to cooperate fully with the SEC's inquiry, but declined to provide further information on the matter. "We cannot discuss any details of the informal inquiry," explained spokesman Gregory Hudgison. "As stated in our public filings, the SEC has not asserted that Synovus or any person or entity has committed any securities violations."
Continue reading Synovus Financial Slides on SEC Inquiry
Posted Jan 25th 2010 10:40AM by Mark Fightmaster (RSS feed)
Filed under: Law, Motorola (MOT), Research in Motion (RIMM)
Monday morning, mobile phone firm Motorola (MOT) found itself on the lips of lawyers and judges. The first reason is that a lawsuit commenced in the U.S. District Court for the Northern District of Illinois on behalf of MOT stock purchasers who made their purchase from December 6, 2007 through January 22, 2008.
The lawsuit alleges that Motorola and "certain of its officers and directors" violated federal securities laws by "intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season." The suit states that Motorola's RAZR2 did not attract buyers thanks to its $299 price tag and the fact that it had not improved enough from the RAZR. Nevertheless, Motorola made positive statements all while losing "significant market share" to its competition. The defendants claim that Motorola senior execs knew that Motorola was not on track to hit their profit forecast of 12 cents to 14 cents per share, and would like a bit of compensation.
Continue reading A Rather Litigious Monday Morning for Motorola
Posted Dec 1st 2009 10:30AM by Mark Fightmaster (RSS feed)
Filed under: Law, Nokia Corp. (NOK)

This morning, Nokia (
NOK) -- primarily known for its presence in the mobile phone arena -- announced that it is
filing suits against some liquid crystal display (LCD) makers. NOK believes that these LCD producers are engaging in a bit of price fixing. It filed suits in the U.S. and Britain last month.
NOK believes that a group of manufacturers was fixing the prices of LCDs that the company uses in its handsets and of cathode ray tubes. The company said that it "has filed suits to recover overcharges it paid as a result of cartel activities which are currently under governmental investigation."
Continue reading Nokia sues LCD makers for price fixing
Posted Nov 13th 2009 11:20AM by Mark Fightmaster (RSS feed)
Filed under: Competitive Strategy, Burger King Hldgs (BKC), Entrepreneurs
Interesting little battle shaping up in the fast-food realm, and it isn't between restaurants -- it is within one. According to the Associated Press, Burger King (BKC) franchisees are suing the company over its recent $1 double cheeseburger promotion.
The reason for the lawsuit is that the franchisees are losing money on the deal because the company is setting maximum menu prices, which Burger King is not allowed to do. The National Franchise Association (NFA), which represents more than 80% of Burger King's U.S. franchise owners, says that the promotion is forcing restaurant owners to sell the quarter-pound burger at a 10-cent loss. One Burger King franchisee said that the burger in question typically costs franchisees $1.10.
Continue reading Burger King franchisees sue over $1 burgers
Posted Sep 28th 2009 10:00AM by Tom Johansmeyer (RSS feed)
Filed under: Scandals
Even with the ringleader in jail, the pursuit of Bernie Madoff doesn't seem to be finished. Sunday night, the trustee who's winding down the Madoff company said on 60 Minutes that Madoff's two sons (Mark and Andrew), brother (Peter) and niece (Shana) will be slapped with a $198 million suit. They are alleged to have known about the Ponzi scheme, according to the trustee, Irving Picard and his chief counsel, David Sheehan.
Sheehan and Picard are also working under the assumption that there is still some money hidden, quite a lot of it, in fact. Picard told the show, "We'd assume it's millions and millions of dollars." Yet, this probably wouldn't help with the task in front of them.
Continue reading Madoff family to be sued for $198 million
Posted Jun 30th 2009 2:40PM by James Cullen (RSS feed)
Filed under: Johnson and Johnson (JNJ), Abbott Laboratories (ABT)

Yesterday, pharmaceutical giant Johnson & Johnson (
JNJ) said that its patent infringement lawsuit against Abbott Labs (
ABT)
was successful, with Abbott ordered to pay $1.67 billion because its best-selling drug, Humira, too closely resembles J&J's Remicade. The drugs are intended to treat rheumatoid arthritis by blocking a substance known as TNF, which causes inflammation. According to the Arthritis Foundation, 1.3 million Americans suffer from rheumatoid arthritis, a chronic disease. Abbott Labs sponsors the group's programs specifically related to rheumatoid arthritis.
The verdict leaves Abbott stock in a tenuous position. The healthcare sector has been in the crosshairs lately as concerns about costly medical reform swirl, with the SPDR S&P Pharmaceuticals (XPH) ETF down slightly year-to-date, compared to the nearly 5% gain on the S&P 500. Abbott Labs has underperformed both comparables, and is down 10% year-to-date.
Continue reading Abbott Labs to pay J&J $1.67 billion from patent lawsuit
Posted Jun 19th 2009 2:40PM by Mark Fightmaster (RSS feed)
Filed under: NIKE, Inc'B' (NKE)

It is a rare occasion when several of my interests line up ... but that has happened this week. First and foremost, I am a sneakerhead - a sneakerfreak - a sneakerologist - whatever you want to call it. I am also a fan of music, namely great guitar players - and being a child of the 80's, Eddie Van Halen is one of the first names that comes to mind when asked to name great guitarists. Well, sneakers and Eddie Van have collided, as the rocker is suing
Nike (NYSE:
NKE) for using his "Frankenstrat" guitar's color scheme in a
pair of shoes without his permission.
Nike has created a design for a pair of its Dunk Low sneakers that has a red sole on a black show, with white and black diagonal stripes decorating the sole. Eddie contends that this design has caused "irreparable harm and damage" to his design, which he trademarked back in 2001. According to Nike, "Nike's Dunk shoe design is not substantially similar to any of the Van Halen designs, and Nike has not referenced the 'Van Halen' name or image as part of any marketing campaign or promotional material associated with the shoe."
Continue reading JockStocks: A look at Eddie Van Halen's frivolous lawsuit against Nike
Posted May 14th 2009 8:40AM by Mark Fightmaster (RSS feed)
Filed under: After the Bell, Law, JPMorgan Chase (JPM), Bank of America (BAC), Morgan Stanley (MS), MBIA Inc (MBI)
In yesterday's online edition of The Wall Street Journal, it was reported that MBIA (NYSE: MBI) is facing lawsuits from a group of 18 different financial institutions. The lawsuit was filed in New York State court and includes the likes of J.P. Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS), and UBS (NYSE: UBS).
These banks are claiming that the way MBIA split its municipal bond insurance business earlier this year was "an unlawful attempt to escape" its contractual obligations to cover losses from mortgage securities. In addition to the split earlier this year, MBIA shifted $5 billion to a municipal bond insurance company.
Continue reading MBIA sued by other banks for splitting units
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