RIM says ruling overturned in Mformation patent-infringement case
"After considering motions presented by both parties as well as the jury verdict, the judge determined that RIM had not infringed on Mformation's patent," the company said early Thursday.
The BlackBerry-maker added that it is not required to make any payment to Mformation now.
Mformation still has the right to appeal the latest ruling. However, RIM (TSX:RIM) said, if Mformation successfully appeals the ruling, the jury verdict would not be reinstated and instead a new trial would occur.
In slapping the Waterloo, Ont.-based company with damages of $147.2 million last month, a jury determined that RIM infringed on patents owned by Mformation, based in Edison, N.J.
At the time, RIM denied any wrongdoing and on Thursday, praised the latest ruling.
"We appreciate the judge's careful consideration of this case. RIM did not infringe on Mformation's patent and we are pleased with this victory," said Steve Zipperstein, RIM's chief legal officer.
Mformation could not be reached for comment.
On Wednesday, RIM shares rallied after an analyst suggested that the company was close to wrapping up its review of its strategic options.