RealNetworks Jumps on VeriSign Ruling; J.P. Morgan Upgrades
RealNetworks (RNWK) shares have spiked higher this morning after disclosing late yesterday that an arbitrator ruled in the company’s favor in its dispute with VeriSign (VRSN). The case concerned allegations that Real had interfered with VeriSign’s planned sale of its mobile messaging unit. Real said in an SEC filing that the arbitrator reversed his prior determination that Real committed acts of tortious interference with existing and prospective business relationships; those claims were dismissed.
J.P. Morgan analyst Vasily Karasyov this morning responded to the ruling by lifting his rating on the stock to Neutral from Underweight, noting that the decision was “more favorable for RealNetworks than we feared.”
