HOLTSVILLE, N.Y.-Symbol Technologies Inc. continued operations in the eye of the storm, with an Ohio jury awarding $218 million in damages to a company suing one of Symbol’s business units.
Symbol’s unit, Telxon Corp., said it would appeal the verdict. Symbol’s stock was down about 5 percent following the news to about $12.24 per share.
Smart Media filed the suit against Telxon in 1999, claiming the company did not follow through on an agreed-upon alliance. Telxon claims it did not agree to the partnership. Symbol acquired Telxon in 2000.
The suit is just one of several issues facing Symbol. The company just this month won $23 million in damages from Proxim Inc. over disputed Wi-Fi patents, and Symbol is also embroiled in an accounting revision with the Securities and Exchange Commission.
Symbol builds bar code scanners and other wireless and mobile devices.
