TiVo Inc. announced a $250 million settlement with Verizon Communications Inc. on Monday, pushing Irell & Manella’s recent recovery for the company past the $1 billion mark. The same day, Verizon agreed to pay more than $260 million to end to a costly patent fight with ActiveVideo Networks Inc. and its lawyers at Morgan Lewis & Bockius.
Verizon’s settlement with TiVo, which calls for a $100 million upfront payment followed by quarterly installments until 2018, resolves a patent infringement suit TiVo brought over DVR technology. Irell & Manella partners Andrei Iancu and Morgan Chu led the way for TiVo, along with McKool Smith and Robins Kaplan Miller & Ciresi. Kellogg Huber Hansen Todd Evans & Figel represents Verizon. The case was scheduled to go to trial in October in federal district court in Marshall, Texas.
