The U.S. Court of Appeals for the Federal Circuit denied Research In Motion Ltd.’s motion to stay further proceedings in a patent case between RIM and patent-holding company NTP Inc.
RIM had asked the court to stay further proceedings until the U.S. Supreme Court decided whether it would accept an appeal of the decision in this case. The case is now remanded to district court for further proceedings, and NTP now is expected to ask the district court to enforce an injunction against the sale of RIM’s popular BlackBerry devices.
Trading on RIM’s shares was temporarily halted mid-day Friday following the news. At the time it was halted, the company’s shares were trading at $61.12, down 5.47 percent. The stock rallied slightly later in the day to close down 3.59 percent at $62.34 with more than 13 million shares changing hands.
RIM said it will ask the Supreme Court to suspend the court proceedings while it seeks a Supreme Court review. RIM sought a Supreme Court review of the case earlier this month after a U.S. appeals court ruling denied the company a rehearing in the case.
RIM has been embroiled in a patent infringement dispute with NTP for more than three years. The two companies had reached a $450 million settlement earlier this year, but the deal fell apart.
