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eBay’s stake in Craigslist restored following victorious court ruling


ebayThe world’s largest online auction website, eBay, just announced late this afternoon that a Delaware Court ruled in favor for the company in a lawsuit that involved the dilution of its investment in rival company Craigslist.

The lawsuit was initiated in 2008, and alleged majority Craigslist stockholders, and the company founders Mr. Buckmaster and Mr. Newmark, unlawfully undertook transactions that unfairly diluted eBay’s minority share in Cragslist.

eBay Inc. made an initial investment in the classifieds giant in August of 2004, although the terms of the deal were not disclosed, other than the fact that eBay earned a marginal 25-percent stake in the company after buying out the shares of an exiting executive.

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RIM makes final offer to avoid India BlackBerry ban


The Waterloo, Canadian-based maker of the BlackBerry smartphone, Research In Motion (RIM), is having final negotiations with top-level officials from the government of India in an attempt to satisfy security concerns that would avoid a nation wide ban of the BlackBerry.

In the most recent developments today, Research In Motion offered the government of India to organize and lead an industry wide forum on mobile communications and privacy, and their relationship with national security.

The government of India argues the BlackBerry platform is the only communication medium in the country that currently cannot be monitored, and that terrorists and criminals could use the messaging phone to freely communicate securely without worrying about government monitoring.

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Michael Dell pays $4mn SEC fine following disclosure probe


According to new SEC published report, the computer giant Dell Inc. has agreed to pay a $100-million fine to the commission following five years of litigation relating to a fraud case involving the company and its top executives.

The SEC alleged the company failed to disclose its relationship with Intel Corporation, who was providing huge payments to Dell in exchange for exclusively using Intel microprocessors in Dell products.

The issue was that the payments that were made by Intel were material over several fiscal quarters hence distorted true operational earnings that ultimately mislead investors into believing that the company was more profitable than it really was.

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NTP sues Apple, Microsoft, and others, in email patent claims


NTP Corporation today announced it has launched new lawsuits against numerous technology firms for alleged patent infringement related to eight patents held by the company in wireless email delivery.

NTP has filed suit against LG Electronics, Microsoft, Motorola, Apple, Google, High Tech Computer (HTC) Corporation in a U.S. District Court in Virginia.

NTP has already successfully sued firms for infringements on the same patents it is filing suit for today.

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SEC approves policy to halt trading on S&P 500 stocks during extreme volatility


On May 6, an apparent erroneous trading error caused the Dow Jones index to lose about 1,000 points, or nearly 9-percent of its total value, in about only a half an hours time.

During that time period, $862-billion was lost, with most of the capital being recovered in the next trading day when security values were pushed back up to prices better reflecting fair value.

The free fall was caused by an apparent trading error, that was made by an equities trader who mistakenly entered a “b” (indicating billion) for a futures trade on the Procter and Gamble stock (NYSE:PG), instead of the correct “m” (indicating million) button.

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Microsoft ends litigation with $200m settlement for VPN technology


Microsoft Corporation today confirmed the company would settle pending patent litigation relating to virtual private network (VPN) technology owned by VirnetX Inc. to the tune of $200-million.

The suit alleged Microsoft was using the patented technology in various products, including Microsoft’s flagship operating system Windows XP, among other products like Microsoft servers.

The suit was initially brought against the company in 2007 in a Texas court.

Under the agreement, Microsoft will gain non-exclusive license to use the technology, along with a payment of $200-million.

Microsoft vice president Tom Burt said today in a statement, “We are pleased to work with VirnetX to bring these cases to a successful resolution through this settlement,”

The Microsoft stock (NASDAQ:MSFT) is trading at par from its opening price of $28.93 as at 3:49pm, moments before the closing bell for today’s trading session.

The VirnetX (AMEX:VHC) stock opened up at $7 per share, but trended down to $6.29 per share (up 2.61-percent) ten minutes before the closing bell.

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New extortion lawsuit filed against review site Yelp


A new lawsuit has been filed against the popular online review site Yelp as business owners claim the company is extorting them for advertising dollars.

Mr. Boris Levitt, the owner of a furniture restoration business called Renaissance, has filed the latest lawsuit against Yelp.

Mr. Levitt is claiming Yelp has removed positive reviews of his business on the community, leaving mainly the negative ones, after Mr. Levitt allegedly declined a solicitation for monthly advertising dollars by Yelp. He is claiming Yelp is advertising its business as an unbiased reviews website, when in fact they are removing and manipulating reviews when businesses chose not to advertise with them.

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Apple files lawsuit against HTC over iPhone patents [with legal docs]


Early this morning, Apple filed a lawsuit against the Taiwanese phone maker High Tech Computer (HTC) Corporation, alleging the company in infringing on more than 20 Apple owned patents in its mobile phones.

The lawsuit was filed in a U.S. District Court in Delaware and with the U.S. International Trade Commission today.

HTC is the maker of about 85-percent of all Windows Mobile powered devices, and also the maker of Google’s latest Android powered phone, the Nexus One.

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Microsoft changes Office Word by court ruling


We first reported on August 12, 2009 that a Texas-based court ruled in favor of i4i Corp, a Toronto-based firm, that ordered Microsoft to cease selling its popular Word program because of alleged patent infringement related to custom XML editing (U.S. Patent Number 5,787,449). The Texas-court in that ruling also fined Microsoft $240 million.

At that time, Microsoft spokesman Kevin Kutz said, “We believe the evidence clearly demonstrated that we do not infringe and that the i4i patent is invalid,” and said the company would appeal.

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eBay hit with new fine over counterfeit Louis Vuitton products


The world’s largest online auction site, eBay, has been hit with a massive €1.7 million (USD $2.55 million) fine after the company has failed to adhere to a previous injunction that ruled the company wasn’t doing enough to block the sale of counterfeited Louis Vuitton products.

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