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Technology Stocks : BB: BlackBerry (fka RIMM: Research in Motion)
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From: kidl6/8/2023 12:55:50 PM
   of 1778
Globe says fight erupts over sale of BlackBerry patents

BlackBerry Ltd (C:BB)
Shares Issued 583,226,580
Last Close 6/7/2023 $6.92
Thursday June 8 2023 - In the News

The Globe and Mail reports in its Thursday edition that the company that failed to close a deal to buy BlackBerry's legacy smart phone patents is trying to unwind the subsequent sale by the Canadian company to another purchaser and get a second chance to buy the intellectual property. The Globe's Sean Silcoff writes that Catapult IP Innovations on Tuesday filed a complaint against Malikie Innovations in the U.S. District Court for the Eastern District of Virginia, seeking an order compelling the defendant "to participate in arbitration to resolve disputed ownership" over roughly 32,000 patents Malikie bought from BlackBerry this year. In its complaint, Catapult said its action "is made necessary because of a breach of contract" by BlackBerry, which is not a party in the matter. The Baltimore-based, Delaware-registered plaintiff disclosed it also began a separate arbitration process against BlackBerry as laid out in their original contract. Catapult stated it believes the Malikie deal is invalid and that BlackBerry breached their original contract. It is asking a New York arbitration panel to unwind the deal "and to convey the patents to Catapult instead." Malikie's Dublin-based parent is Key Patent Innovations.

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