BOSTON (Thomson Financial) - Shares of InterDigital Inc. soared Monday after
the King of Prussia, Pa.-based wireless technology company said it is in talks
with Nokia Corp. and has made "substantial" progress towards resolving the
ongoing mobile-phone patent dispute between the companies.
The stock was up nearly 19% at $23.11 on heavy volume of 1.1 million shares.
The issue's 30-day average volume is about 861,150 shares.
In a Form 8-K filing with the Securities and Exchange Commission,
InterDigital said the U.S. District Court for the Southern District of New York
ordered the company last Thursday to participate in arbitration over the license
issue.
InterDigital said it disagreed with the court decision, however, and said it
is appealing the order.
Last year, InterDigital filed complaints with the U.S. International Trade
Commission and the U.S. District Court for the District of Delaware alleging
that Finland-based Nokia infringed on two InterDigital patents.
In February, Nokia asked the U.S. District Court for the Southern District
of New York to stop InterDigital from going ahead with the International Trade
Commission case.
InterDigital said the March 20 court order has no effect on its dispute with
Samsung Electronics Co., for which a hearing is scheduled to start April 21.
Casey Logan
cl/vj
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