Verizon, Cisco Hit With $500M Suit Over Patent Trust

Law360, New York (May 10, 2010, 5:40 PM EDT) -- A patent-holding company is seeking at least $500 million in an antitrust lawsuit accusing a consortium of telecom companies, including Verizon Communications Inc., Cisco Systems Inc. and Ericsson Inc., of conspiring against small patent owners and licensors to drive them out of business.

The complaint, filed Thursday in the U.S. District Court for the Southern District of New York, alleges the defendants implemented the conspiracy through the Allied Security Trust, a nonprofit association of companies that purchases patents on behalf of its members. Inc., the...
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