Chapter 108 Litigation Delay Tactics
During the two days when the New York Stock Exchange was closed on weekends. Two big events happened in succession concerning AT&T. The first thing is that the US Natural Science Foundation announced the establishment of five supercomputing centers in the United States. Any user can connect to these five supercomputing centers through a specific network protocol to share their powerful computing capabilities. As soon as this news came out, all universities and research institutes in the United States were concerned about it. Many famous universities planned to apply for this service with the telecommunications operators that provide network connection services. Investors in AT&T stock were all grinning from ear to ear when they heard the news. They can't wait to know that when the market opens next Monday, AT&T's stock price will rise on the good news. to what price.
But the good mood of these investors only lasted until Sunday night, and they were soon hit by another news. It was less than twelve hours before the market opened on Monday. Many Wall Street investors have received the latest news from Bloomberg News. Just on Sunday afternoon, Yota Communications filed a lawsuit in the District Court of San Jose, where Cisco is headquartered, suing Cisco for infringing a total of seven patented technologies related to network solutions of Yota Communications, and requested the court to immediately ban Cisco's All related products are sold in the market. As the lawyers of Yota Communications provided sufficient evidence to prove that Cisco’s products have serious infringements, the San Jose District Court adopted the proposal of Yota Communications and officially announced the temporary ban on the sale of Cisco’s products. Openly available on the market in California.
Many people saw this news before they fell asleep. When those Wall Street fund managers who had eaten a lot of AT&T during these days saw this news, they could no longer fall asleep.
At nine o'clock on Monday morning, just as the New York Stock Exchange opened, the stock price of AT&T immediately turned around and dropped 13% of its market value in an instant. Even Motorola's stock began to plummet. AT&T was unprepared for this sudden lawsuit, and as a last resort, they applied to the New York Mercantile Exchange for a trading suspension. However, the suspension of trading could not avoid the end of AT&T's losses. Investors immediately concentrated all their panic on Motorola when the trading suspension could not sell the shares of AT&T. AT&T closed at noon. After the telephone company announced the suspension of trading, Motorola and the company's stock price fell by 14% in the early afternoon. Many investors who had eaten up Motorola's shares not so long ago were suddenly devastated.
The CEO of AT&T, together with the head of Motorola, took a special plane to San Jose that afternoon, and financial reporters from all walks of life also rushed to San Jose to inquire about this intellectual property lawsuit involving hundreds of billions of investment.
The legal procedures in the United States are extremely complicated and cumbersome. Before the official trial, the judge will call the lawyers of both parties to participate in the pre-trial meeting to determine the focus of the dispute, the jury, evidence and other specific issues involved in the court trial. At the pre-trial meeting, lawyers representing Yota Communications submitted 300,000 pages of evidence to the court. This document almost filled the judge's office, and it would probably take a month just to read it. Even the judge couldn't help but gasp. In addition, Yota Communications' lawyers also opened their mouths, demanding that Cisco compensate Yota Communications for as much as seven billion U.S. dollars. This figure has excited the media who have been waiting outside. This figure can definitely be ranked in the top ten of the US litigation amount.
The San Jose District Court's injunction is only valid for a few weeks, and the scope of validity is limited to California. After the injunction expires, the court will determine whether the injunction should be continued. This point has long been calculated by the wily Peterson, so after initiating the first lawsuit,
According to the strategy set by Peterson, yota communication began to blossom in various states in the United States, and continued to file lawsuits in court again and again.
Although these lawsuits were initiated in the district courts of various states, the United States is a case law. As long as Yota Communication wins one of these lawsuits, Cisco's products will not be sold publicly in the US market.
Eva can finally vent her anger. During this period of time, Eva has been bullied by these capitalists on Wall Street, and now it is the turn of these capitalists to feel pain. Thanks to Seryozha's special emphasis on patents at the beginning of the company's establishment, yota's legal department has not been compressed or even streamlined. Now these efforts have paid off, and the legal department of yota communication has quietly established a competitive line for the company. A moat that opponents cannot cross.
Schwarzman, a partner of Blackstone, traveled to New York with Eva after the lawsuit was filed. Schwarzman has now persuaded Eva to introduce new investors in Iridium. So he intends to use his relationship on Wall Street to find out if there are any powerful investors who are willing to participate in Eva's Iridium project.
Both Schwartzman and Eva came from prestigious schools, but Schwartz joined Skull and Bones when he was at Yale, and went to Harvard Business School after graduation. His connection is much stronger than that of Eva, who graduated from medical school. After a series of communication and discussions, Schwartz first won over his old club, Lehman Brothers. Because AT&T has been suspending trading all the time, and AT&T’s Motorola stock costs are too high, and the funds for AT&T’s acquisition of Motorola come from high-interest financing from Wall Street. If it continues to plummet like this, AT&T was about to blow up. However, for the remaining shareholders who have held Motorola for many years, Motorola's positive foundation no longer exists. They can still make a steady profit by cashing out before the stock price falls back to before liberation, so they don't want to suspend trading.
The split in Motorola's board gave Schwarzman reason to persuade Lehman Brothers to step in. Under Schwarzman's eloquence, Lehman Brothers finally stood on the side of Yota Communications. Yota Communication will receive financial support from Lehman Brothers, one of the five major investment banks. But that was just the beginning. Bill Gross, head of investments at Columbia Bank, had taken on a new assignment to short Motorola stock, which would only make life harder for AT&T. ...
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