Rochester, NY 6/26/2009 2:55:51 AM
Afternoon Report - LNC - Federal District Judge Upholds Patent Judgement In favor of Lincoln National Corp. - Sourced WhisperFromWallStreet.com
Lincoln National Corporation
Afternoon Report - LNC - Federal District Judge Upholds Patent Judgement In favor of Lincoln National Corp. - Sourced WhisperFromWallStreet.com
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LINCOLN NATL CP,LNC
Lincoln National announces Federal District Judge upholds patent judgment in their favor. Co announces the Federal District Court in Iowa validated a jury's decision to render a verdict in favor of Lincoln National Life Insurance Company in a patent infringement lawsuit against Transamerica Life Insurance Company and related Aegon USA companies. The judge in the case held that reasonable grounds supported the jury's verdict that Lincoln's '201 patent was not invalid, that Transamerica infringed and determination that an appropriate damages award for Transamerica's infringement was $13.1 mln. In addition, the judge entered an injunction against Transamerica enjoining the companies from using a computer to administer new or existing riders in any infringing manner.
Last Trade: 16.51
Day's Range: 15.95 - 16.74
52wk Range: 4.76 - 59.99
Volume: 5,403,454
ABOUT
Lincoln National Corporation, through its subsidiaries, engages in multiple insurance and investment management businesses primarily in the United States. It sells a range of wealth protection, accumulation, and retirement income products and solutions. These products include institutional and/or retail fixed and indexed annuities, variable annuities, universal life insurance (UL), variable universal life insurance (VUL), term life insurance, mutual funds, and managed accounts.
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