Patent pain for Boston Communications Group
Friday was a tough day for Boston Communications Group. First, BCGI, a fast-growing provider of cell-phone billing services, coughed up $55.3 million to Freedom Wireless to settle an ugly patent dispute. That payout was actually part of a larger $87 million settlement, reports the Boston Globe, involving several other wireless companies, all of whom were allegedly infringing Freedom's patents on prepaid wireless services. " (Is it just us, or has it been a good year for patent holders?)

The good news for BCGI? TheStreet.com notes it had already accrued a $64 million charge related to the case - so the company actually came out $9 million ahead. The stock doubled on the news, jumping $2.09 to $4.01, its largest-ever gain since it went public in 1996. But then came more bad news: The SEC has begun an "informal" review of the company's option pricing practices. Who said life in Boston was sleepy?
Posted by Oliver Ryan 11:35 PM 0 Comments comment | Add a Comment

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.