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QUINN SETTLES PATENT SUIT FOR $ 87 MILLION Quinn Emanuel Urquhart Oliver & Hedges will finally cash in on its investment. A patent suit the firm filed on behalf of client Freedom Wireless has been settled for $87 million. The settlement, announced Friday, was reached nearly a year after Quinn Emanuel partner William Price won a $128 million jury verdict for the company. The firm represented the Phoenix-based company � owned by a pair of entrepreneurs with six patents on prepaid cell phone service � on a contingency basis. In an e-mail, Price declined to say how much the firm will collect in fees and referred calls for comment to the company. A call to Freedom Wireless President Larry Day was not immediately returned Monday. Lead defendants Boston Communications Group Inc., a billing service for prepaid wireless phones, will pay Freedom Wireless $55 million in damages and unspecified future royalties. Co-defendants Cingular Wireless, Sprint Nextel Corp. and Alltel Corp. will pay Freedom Wireless a combined $32 million. BCGI also agreed to pay Freedom Wireless 5 percent of any increase in the average market capitalization of its stock in the first six months of next year compared with the first six months of this year. BCGI stock, which has been severely depressed in the wake of its court loss, has doubled since Friday’s settlement. Last year, Verizon Wireless, one of the co-defendants in the suit, settled out of the case for an undisclosed sum. Boston’s Foley Hoag represented BCGI at trial. BCGI hired Finnegan Henderson Farabow Garrett & Dunner for the appeal.

- Xenia P. Kobylarz

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