Motorola's (MOT) $10 Billion Suit Ends in Mistrial
Motorola Inc. said on Monday that a Florida court declared a mistrial in a $10-billion misappropriation case brought against it by SPS Technologies Corp. as the jury could not agree on a verdict. SPS, a now-defunct Florida company, had accused Motorola, the world's No. 2 cell phone maker, of misappropriating trade secrets related to a vehicle-tracking technology system, according to Motorola. Motorola lawyer George Selby said Motorola had discussed forming a venture with SPS and other companies in 2000 related to the vehicle-tracking system, but that the venture was never consummated because it did not make business sense. Broward County Florida Circuit Court Judge Leroy Moe declared a mistrial after the jury became deadlocked on the question of whether Motorola had misappropriated trade secrets, Selby said. He said Motorola tried to come to a settlement with SPS. Reuters was not able to reach representatives for SPS. This is good news for Motorola, it should be interesting to see what how the stock price will react this week.
Source: Reuters.comLabels: General Motors, Lawsuit, Motorola
posted by Stock Administrator @ 3:28 PM
Motorola's (MOT) $10 Billion Suit Ends in Mistrial
Motorola Inc. said on Monday that a Florida court declared a mistrial in a $10-billion misappropriation case brought against it by SPS Technologies Corp. as the jury could not agree on a verdict. SPS, a now-defunct Florida company, had accused Motorola, the world's No. 2 cell phone maker, of misappropriating trade secrets related to a vehicle-tracking technology system, according to Motorola. Motorola lawyer George Selby said Motorola had discussed forming a venture with SPS and other companies in 2000 related to the vehicle-tracking system, but that the venture was never consummated because it did not make business sense. Broward County Florida Circuit Court Judge Leroy Moe declared a mistrial after the jury became deadlocked on the question of whether Motorola had misappropriated trade secrets, Selby said. He said Motorola tried to come to a settlement with SPS. Reuters was not able to reach representatives for SPS. This is good news for Motorola, it should be interesting to see what how the stock price will react this week.
Source: Reuters.com
Source: Reuters.com
Labels: General Motors, Lawsuit, Motorola
posted by Stock Administrator @ 3:28 PM
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