palm ntpTelecommunications Industry reports that the shares of the makers of the Treo fropped over 7% on the news that the wireless email technology used in Palm Treo smartphones violates seven patents.

Telecommunications Industry reports that the shares of the makers of the Treo dropped over 7% on the news that the wireless email technology used in Palm Treo smartphones violates seven patents. TI says:

Palm has come under a significant legal threat this week due to a patent lawsuit by NTP Inc., the same company that successfully sued Research In Motion for $612.5 million earlier this year… Palm executives have not yet commented on the lawsuit, but investors are hastily selling off the stock. The company’s shares dropped 7.6% on the NASDAQ yesterday, after the news was made public.

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