- Reuters reports Twitter (TWTR), which just hiked its IPO price range due to strong demand, will stop taking orders for its IPO tomorrow, a day ahead of schedule. The microblogging giant still expects to price its IPO on Wednesday, and begin trading on Thursday.
- Meanwhile, Twitter has disclosed in its latest S-1 IBM thinks the company is infringing at least three of its patents, and is looking for a settlement. Twitter claims it has "meritorious defenses to IBM’s allegations."
- Twitter's meager patent portfolio, which limits its ability to file counter-suits in infringement battles, has been viewed as a business risk.
- Twitter has long been a staunch opponent of Web patent litigation. Last year, the company announced its Innovator's Patent Agreement, which generally lets Twitter engineers/designers maintain control of the patents they create, and promises said patents won't be used for "offensive litigation" without their creators' consent.
Twitter reportedly closing books early, IP dispute with IBM disclosed
Nov 4 2013, 12:07 ET