Pursuant to U.S. GAAP, a portion of the proceeds will be accounted for and attributed to the settlement of prior legal claims.
FORBES: Nvidia Gets $1.5 Billion In Intel Cross-Licensing Deal, Settles Litigation
This new agreement, made public Friday afternoon, amounts to a full and final settlement of all claims against RIM, as well as a perpetual, fully-paid up license for the disputed patents.
The oil firm has not agreed with the Justice Department on a separate civil settlement involving federal and state claims of damages to natural resources.
CNN: Judge approves BP plea agreement, record $4 billion fine
On the legal and regulatory front, Unum reached a multistate regulatory settlement agreement on its claims practices in 2004 and agreed to reassess thousands of denied disability claims.
The plaintiffs and BP "believe that the settlement agreements are a fair, reasonable and adequate resolution of the claims, " the company said.
The size and scope of the problem is now well known and it seems straightforward to sign on to a final settlement that wraps up most of the claims, helps some genuinely needy borrowers, and protects lenders from still additional liability arising out of the same conduct.
"Although we have strong defenses to all claims, a settlement avoids years of litigation and uncertainties that are inherent in such cases, " said Noah Hanft, MasterCard's general counsel, in a statement.
WSJ: Visa, Mastercard Agree to $6 Billion Settlement Over Surcharges
It came despite aggressive statements made by Balsillie last week: he repeatedly denounced NTP's patent claims and accused the company of being disingenuous in its settlement offers.
The other settlement, with all ten banks participating, resolved claims of foreclosure abuses that included flawed paperwork and bungled loan modifications.
Reaching a final settlement with the Osage Tribe on its trust accounting and trust mismanagement claims has been a priority for the Department of Justice and the Department of the Interior.
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