Apple Inc.A jury found Apple violated Taction Technology's haptics patents and ordered it to pay $5.7B in damages.
Burford Capital shares climbed 9.8% in Monday afternoon trading after a jury ordered Apple to pay $5.7B in damages to Taction Technology, a Burford client, in a patent lawsuit over haptics technology. Burford, which focuses on litigation finance and other legal finance activities, said the amount is likely to be adjusted in post-trial and/or appellate proceedings. If the verdict amount were paid, Burford's share would be $1.4B, split roughly between its balance sheet and investment funds, the company said on Monday. The jury found on Friday that the tech giant violated Taction Technology's patents. Burford cautioned that very few large patent verdicts survive the post-verdict process intact and that the outcome remains uncertain until final resolution, with no assurance as to the timing or amount of any ultimate recovery.
Apple Inc.A jury found Apple violated Taction Technology's haptics patents and ordered it to pay $5.7B in damages.
Applovin Corp
Burford Capital LtdBurford's client won a $5.7B patent verdict, potentially yielding a $1.4B share for the litigation financier.
Taction Technology won its patent lawsuit against Apple, with the jury finding Apple violated its haptics patents.