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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Market indexes 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. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.