Openwave Reaches $12M Deal In Myriad Contract Suit

Law360, New York (August 29, 2011, 9:08 PM EDT) -- Openwave Systems Inc. on Monday agreed to pay $12 million to Myriad Group AG to settle a California breach of contract suit Openwave brought after selling Myriad its mobile phone software business and associated intellectual property.

The deal will buy Openwave "uncontested" ownership of a portfolio of patents from Zurich-based Myriad, a mobile phone app maker that itself bought a number of Openwave patents in 2008, the plaintiff said.

“The agreement ends all of Myriad's claims to Openwave's patents and Openwave's litigation against Myriad,” the company...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.