Posted by: youngragingbull | March 1, 2013

Apple’s legal winnings from Samsung cut nearly in half

Apple Inc. on Friday had its $1.05 billion award from a patent-infringement case with Samsung Electronics nearly cut in half by a U.S. district court judge.

The ruling by judge Lucy Koh in the U.S. District Court for the Northern District of California reduced the jury’s damages in the case by $450.5 million, to $599 million on the grounds that Samsung deserves a new trial on claims that several of its smartphones violated Apple patents.

Apple had been seeking an increase in damages in the case that involves 14 Samsung smartphones.

Apple shares were down by $10, or more than 2%, at $431.28 after the ruling was made public.


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