X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.