Patent Co. Asks 2nd Circ. To Revive $500M Antitrust Suit

Law360, New York (June 20, 2011, 7:25 PM EDT) -- The chairman of a patent investment company told the Second Circuit on Monday that a lower court wrongly tossed his $500 million antitrust suit against telecom giants including Verizon Communications Inc., Cisco Systems Inc. and Ericsson Inc. for lack of standing.

Serving as attorney and key shareholder of Siti-Sites.com Inc., Lawrence M. Powers told a three-judge panel that U.S. District Judge Denise Cote overlooked signficant aspects of a 2006 settlement in making the determination.

The settlement clarifies that the company is sharing rights to the patent...
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