April 14, 2021

Market and Financial News

Market and Financial News Aggregator

U.S. jury tells Apple to pay $308.5 million for patent infringement By Reuters

2 min read

© Reuters. FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in New York

(Reuters) – A federal jury in Texas said Apple Inc (NASDAQ:) must pay about $308.5 million to Personalized Media Communications LLC (PMC) for infringing a patent associated with digital rights management.

The jurors late on Friday directed Apple to pay a running royalty to PMC, which is generally based on the amount of sales of a product or service.

Apple said it was disappointed with the verdict and planned to appeal.

“Cases like this, brought by companies that don’t make or sell any products, stifle innovation and ultimately harm consumers,” it said in an emailed statement.

PMC, a licensing firm, had originally sued Apple in 2015 alleging the tech giant’s iTunes service infringed seven of its patents.

Apple successfully challenged PMC’s case at the U.S. patent office, but an appeals court in March last year reversed that decision, paving the way for the trial.

Sugarland, Texas-based PMC has infringement cases pending against companies including Netflix Inc (NASDAQ:), Alphabet (NASDAQ:) Inc’s Google and Amazon.com Inc (NASDAQ:).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Reuters

2021-03-20 12:55:40

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.