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Samsung gets a nice boost from court win

Judge Lucy Koh of the U.S. District Court for the Northern District of California on Friday dropped a bombshell on Apple, Inc. (AAPL), effectively tossing $400M USD in damages from the $1.05B USD jury verdict against Samsung Electronics Comp., Ltd. (KSC:005930).

The modification was due to a mistake in how the damages were calculated by the jury on 14 products.  At least part of that sum may come back, as Judge Koh ordered the two to participate in a new damages trial.  The products involved in that trial will be Samsung's:
  • Captivate
  • Continuum
  • Droid Charge
  • Epic 4G
  • Exhibit 4G
  • Indulge
  • Infuse 4G
  • Galaxy Prevail
  • Gem
  • Galaxy SII for AT&T
  • Galaxy Tab
  • Nexus S 4G
  • Replenish
  • Transform
Judge Koh writes, "The court has identified an impermissible legal theory on which the jury based its award and cannot reasonably calculate the amount of excess while effectuating the intent of the jury."

Apple on Samsung phone
[Image Source: Reuters]

Samsung, while disappointed at Judge Koh's decision not to review the merit of the verdict, cheered the damage vacation, commenting to Reuters, "We are pleased that the court decided to strike $450,514,650 from the jury's award.  Samsung intends to seek further review as to the remaining award."

Apple shares fell nearly 1.8 percent on the news, while Samsung shares rallied 1.1 percent upwards.

Samsung will be appealing the overall verdict in the appeals circuit.  The South Korean phone giant should be aided by the fact that the U.S. Patent and Trademark Office (USPTO) has filed preliminary invalidation rulings regarding two of the key Apple utility patents involved in the case.  Samsung faces one other additional trial in which Apple claims patent violations against Samsung's newer products.

Source: Reuters



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RE: Talk about overreaction
By TSS on 3/4/2013 10:31:40 PM , Rating: 2
The market is reaction to the news not lining up with predictions of analysts. Reality was worse then predictions, so share prices drop.

I've seen share prices drop on companies making a record profit, rising revenue with 5% but the analysts expected 6% so the company must be overvalued and share prices drop.

Not that it even matters since the whole stock market is one big fed rigged casino right now. Remember that big deal about cutting $85 billion a year off the federal deficit? That's the same amount as the fed is printing per month in fresh new cash pumped into the stock market to keep it afloat.

The writing has been on the wall for apple since the Ipad. Phone sales started to slow down to the point where they had to innovate, and what they came with was a bigger iphone. And soon a smaller one. It's just that the hedge funds are catching up to that fact.


"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation














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