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2) Reason for 8K was that the company had felt they had reached a point their negotiations with NOK that she felt all involved should be notified given the material nature of these discussions
It's not material unless it's signed, so we must be damned close.
Wonder if Simonson is annoyed that little IDCC has beaten his company. He knows IDCC has a cult following and wanted to get one last jab in to mess with our minds before the big news is announced.
Nokia may have been found to be using the patents, but a question may still remain as to wether or not some of those patents are covered by a previous license.
I thought the ALJ answered that question by refusing to let NOK arbitrate that.
Is that sideways license still on target for "early 2008"? Only a few days left before it is no longer "early 2008", IMO.
Interesting choice of words from Mr. Indekeu. "It's not over til it's over."
Nobody ever says "it's not over until it's over", unless it's really close to being over, right?
I think he is normally based in New York.
Yeah, he's an American, and has worked a lot on Wall Street prior to NOK.
http://www.nokia.com/A4126345
I've seen this mentioned a few times yesterday and today. Why would the market makers want to gather shares for fear of being out of shares when the settlement is finally announced?
If news comes out, and people want to buy at $30, but there are no shares, then raise the price to $35. If there are still no shares, raise the price to $40. At some point, there will be some people who want to sell, and at that point you will have shares. The market makers don't need to worry. They shouldn't need to manipulate. The free market works.
My GUESS is that IDCC and Nokia have a MoU in hand right now which specifies that IDCC and Nokia will go to arbitration first on issues of whether Nokia has right to use those 3G patents based on TDD agreement (refered by the court rulings on 3/20/08)as well as terms of settlements. If we won the arbitration, aka Nokia doesn't have right to use those 3G patents even though they have tdd agreement with IDCC, then Nokia and IDCC will settle based on terms listed in the MoU.
If what you said is true, then IDCC would be OK with going to arbitration. However, that cannot be the case, given that IDCC said in the 8-K that they disagree with the judge's decision and plan to appeal it.
Wouldn't you expect that from an unbiased analyst?
"Jack Indekeu, a spokesman for InterDigital, said the company couldn't comment."
If Jack can't comment, then I don't think JP could comment either.
Whose words are those?
NOK stock didn't go down yesterday.
So was that sideways license NOK or someone else?
Let's hope the CFO's comments are kinda the Bear Stearns executives comments just a couple days before the $2 buyout ("no we don't have any liquidity problems")
Not just BM's part, but everyone who reviewed the 8-K - that Steve Stricker guy, the lawyers, etc.
Infringement on one patent is all it takes for an import ban.
If NOK isn't settling, then IDCC needs to release the results of the staff report right now.
The deal is definitely done. If it wasn't, then NOK wouldn't have said "Yes we are indeed in talks. We cannot comment any further." They would have done what they usually do, which is to say something like "the SDNY ruling confirms our belief that the TDD agreement gives us the rights to the patents at issue....."
And why do some people believe the stock would have cratered today? Even if NOK got delayed, we still have SAM by the balls. The staff report still would have been released.
If IDCC is concerned about the stock price being low, then that means they are done with the buyback.
Good call by rooster, and triangle too:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27812945
triangle also called RIMM before it happened:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23121267
Goodbye to the teens forever. eom
http://biz.yahoo.com/ap/080324/interdigital_nokia.html?.v=1
InterDigital, Nokia in Talks on Patent
Monday March 24, 10:46 am ET
By Adam Schreck, AP Business Writer
InterDigital and Nokia Say They Are in Talks Over Disputed 3G Cell Phone Technology Patent
NEW YORK (AP) -- Wireless technology developer InterDigital Inc. disclosed Monday that it is in talks with Nokia Corp. aimed at settling the companies' ongoing patent dispute over third-generation cell-phone technology.
Investors cheered the news. InterDigital shares jumped more than 15 percent in early trading.
"Yes, we are in indeed in talks," Nokia spokeswoman Laurie Armstrong said, when reached for comment. She declined to provide additional details on the negotiations.
The case centers on the question of whether Nokia has a license to use InterDigital's patented technology; Nokia contends that it does, but InterDigital believes otherwise.
On Friday, the U.S. District Court for the Southern District of New York ordered the two sides to begin arbitration over the issue, according to a filing with the Securities and Exchange Commission by InterDigital.
The companies "have made substantial progress towards resolution of all disputes between them," King of Prussia, Pa.-based InterDigital added in the filing.
InterDigital filed complaints with the U.S. International Trade Commission and the U.S. District Court for the District of Delaware last year alleging that the Finnish cell-phone maker engaged in unfair trade practices by infringing on two InterDigital patents. The complaint sought to bar entry into the U.S. of the Nokia phones in question.
In December, the district court in New York confirmed an earlier arbitration award between InterDigital and Samsung Electronics Co. in a separate licensing case. Samsung had challenged a ruling requiring it to pay $134 million plus interest in past royalties, prompting InterDigital to ask the court to enforce the payments.
InterDigital said Monday the court order involving Nokia has no effect on its dispute with Samsung. A hearing involving that company is scheduled for April 21.
InterDigital shares rose $3.41, or 17.5 percent, to $22.87 in morning trading.
If the staff report is delayed, would there be an ITC filing making note of that?
Also, if the staff report has already been released, will there be an ITC filing saying that is the case (with a possible note that it is confidential)?
If they're getting a busy signal, then MOT will sign, followed by ERICY and then SAM.
Doesn't take long to fly from MOT HQ to IDCC. Takes longer to fly from Sweden, and even longer to fly from Korea.
Maybe we will hear WM say during the Q1 CC that NOK is a company of integrity.
The SDNY ruling did not help NOK, because IDCC is not enjoined until April 11. It would only help NOK if the judge said IDCC could be enjoined starting today, prior to the release of the staff report.
Sam will be right behind NOK
I don't know. Maybe ERICY and MOT are trying to push each other out of the way to get behind NOK.
Does this mean we will soon be seeing a motion by NOK to the ITC to stay the Samsung portion of the ITC case, otherwise they will be "highly prejudiced"?
Shouldn't have any effect. Staff report is still on schedule. Samsung is still on schedule. NOK is now separated from Samsung, which is what IDCC wanted in the first place.
Looks like another lawyer was disappointed with Judge Batts:
http://www.therobingroom.com/Judge.aspx?ID=1393
If only we had drawn the judge who confirmed the NOK arb or the judge who confirmed the SAM arb out of the hat.
We should see an 8-K on Monday... about the Hartford settlement.
Hopefully we'll see an 8-K about the SDNY ruling as well.
Please clarify - NOK must post a $500K bond, or a $500 MILLION bond?
If IDCC files a motion to stay the preliminary injunction pending appeal, what do you think are the chances that they will grant the motion?
Thanks to everyone who reported today, and also everyone providing legal analysis.
This is what the IDCC 10-K said:
On February 13, 2008, Nokia filed an action in the U.S. District Court for the Southern District of New York, seeking to preliminarily enjoin InterDigital from proceeding with the USITC action with respect to Nokia, in spite of Judge Luckern’s ruling denying Nokia’s motion to terminate the Investigation. Nokia raises in this preliminary injunction action the same arguments it raised in its motion to terminate the ITC Investigation, namely that InterDigital allegedly must first arbitrate its dispute with Nokia and that Nokia has not waived this defense. The Court has scheduled a preliminary injunction hearing for March 20, 2008.
Even if the worst case scenario is true, that the judge ruled in favor of NOK and stayed the ITC case -- then that is only for NOK, right? The Samsung portion of the ITC case will still proceed, and the staff report will still be released on Monday, right?
She didn't answer her phone. Doubt she's still in.
I assume SSALNER got a call from teecee? I believe they have said that they are friends.
Looks like SSALNER got the update from teecee.