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 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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