Synopsis
The award is the largest in US patent history, but Burford said the verdict faces significant risks at the trial court and on appeal, and the parties might settle for considerably less
ReutersUK-listed litigation funder Burford Capital said on Monday that its funding agreement would entitle it to about $1.4 billion of a landmark $5.7 billion patent verdict won by Taction Technology against Apple, while warning that such large awards rarely survive post-trial proceedings intact.
The award is the largest in US patent history, but Burford said the verdict faces significant risks at the trial court and on appeal, and the parties might settle for considerably less
Apple did not immediately respond to requests for comment on Burford’s statement
A San Diego federal jury found on Friday that the haptic feedback technology in Apple iPhones and Watches infringes two Taction patents
Burford’s US stock was up more than 6% on Monday morning
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