BlackBerry (BBRY) Settles Legal Dispute With Ryan Seacrest's Typo Products

NEW YORK (TheStreet) -- Shares of BlackBerry Ltd  (BBRY) were lower by 1.02% to $9.70 in early market trading Monday, as the company settled its legal dispute with Typo Products, Typo Innovations, Show Media, and other related parties, according to the Associated Press.

As part of the settlement deal, Typo and other parties have agreed to permanently stop selling keyboards for smartphones and mobile devices with a screen size of less than 7.9 inches worldwide, the AP reports.

Typo is prevented from making keyboards of a certain size, meaning it will be out of the Apple (AAPL) smartphone market. The largest model of the iPhone has a height of 6.22 inches.

But, Typo is allowed to keep selling keyboards for devices with a screen size of 7.9 inches or bigger, the AP noted.

Typo was co-founded by American Idol host Ryan Seacrest.

Canada-based BlackBerry is a provider of wireless solution, comprised of smartphones, service and software.

The company provides hardware, software and services that support multiple wireless network standards.

It also provides platforms and solutions for access to information, including email, voice, instant messaging, short message service, internet and intranet-based applications and browsing.

Separately, TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its declining revenues."

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