Why is Yahoo Waving the WHITE FLAG in Facebook Dispute?
Yahoo (NASDAQ:YHOO) is negotiating with Facebook (NASDAQ:FB) in an attempt to settle the patent infringement dispute between the two companies, according to a court filing. Lawyers for Yahoo asked a San Francisco district court judge to grant the company a two-week extension on the deadline to file its reply while the two companies hold discussions.
“The parties are currently engaged in settlement negotiations to resolve this dispute,” Yahoo lawyer Kevin Smith said in the filing. “The parties believe that a further extension will facilitate settlement.”
The lawyers have also asked for a two-week delay in a motion hearing, now set for August 10.
Yahoo sued Facebook in March after alleging that the social network infringed on several of its patents, including those regarding Internet privacy, advertising, and sharing of information. Facebook countersued in April, accusing Yahoo of infringing 10 of its patents. Yahoo had first filed the suits while under the leadership of former chief executive Scott Thompson, who was later ousted from the company amid questions about his resume.