Google To Pay At Least $300M In Stock To Settle Yahoo! Patent Suit
By Marius Meland (August 10, 2004, 12:00 AM EDT) -- In a move that removes a legal threat looming over Google's initial public offering, the search engine has agreed to pay at least $300 million in stock to settle a patent infringement lawsuit brought by rival Yahoo!
The agreement gives Yahoo! an additional 2.7 million shares of Google stock in exchange for dropping a patent lawsuit involving a crucial piece of online advertising technology held by Yahoo!'s wholly-owned subsidiary, Overture.
The settlement is worth about $328 million, based on the midpoint in the $108- to $135-per-share range that Google has established for its initial public offering.
Overture's patent covers a version...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!