Twitter made an update to its S-1 Form, which outlined that
the soon-to-be-public Twitter has received a letter from IBM Corp (IBM) stating
that Twitter is infringing on three IBM patents.
The letter mentioned in the S-1 also says that IBM has
invited Twitter to negotiate a business resolution for the allegations.
Twitter
had the following defense: “we believe we have meritorious defenses to IBM’s
allegations, although there can be no assurance that we will be successful in
defending against these allegations or reaching a business resolution that is
satisfactory to us.” An actual patent infringement suit from one of the old
guard tech companies could be bad news for Twitter, as it tries to focus on its
IPO.
Aside from IBM, the most buzzed about change to Twitter’s
S-1 is that the company now has its shares set at $23-$25, which is up from the
company’s previous share price of $17-$20. Read more.
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