U.S. markets open in 1 hour 46 minutes
  • S&P Futures

    4,126.75
    +0.25 (+0.01%)
     
  • Dow Futures

    33,720.00
    +17.00 (+0.05%)
     
  • Nasdaq Futures

    13,768.50
    -25.75 (-0.19%)
     
  • Russell 2000 Futures

    2,193.90
    +9.90 (+0.45%)
     
  • Crude Oil

    61.76
    -0.91 (-1.45%)
     
  • Gold

    1,783.20
    +4.80 (+0.27%)
     
  • Silver

    26.05
    +0.21 (+0.81%)
     
  • EUR/USD

    1.2009
    -0.0032 (-0.26%)
     
  • 10-Yr Bond

    1.5620
    0.0000 (0.00%)
     
  • Vix

    18.31
    +1.02 (+5.90%)
     
  • GBP/USD

    1.3924
    -0.0013 (-0.09%)
     
  • USD/JPY

    108.1040
    +0.0340 (+0.03%)
     
  • BTC-USD

    54,806.27
    -1,204.18 (-2.15%)
     
  • CMC Crypto 200

    1,249.02
    +14.60 (+1.18%)
     
  • FTSE 100

    6,885.44
    +25.57 (+0.37%)
     
  • Nikkei 225

    28,508.55
    -591.83 (-2.03%)
     

Apple Ordered To Pay $308.5 Million In Patent Infringement Case

  • Oops!
    Something went wrong.
    Please try again later.
Bibhu Pattnaik
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

Apple could have to pay $308.5 million for infringing a digital rights management patent.

What Happened: A federal jury in Marshall, Texas, on Friday ruled that Apple Inc (NASDAQ: AAPL) infringed a patent related to Personalized Media Communications LLC’s (PMC) digital rights management, and said Apple must pay $308.5 million to PMC, Reuters has reported.

The jurors also asked Apple to pay a running royalty to PMC. Sugarland, Texas-based PMC says Apple owes $240 million in royalties.

According to Reuters, Apple is dissatisfied with the verdict and will appeal.

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

See also: How To Buy Apple Stock

Why It Matters: PMC sued Apple in 2015, alleging that its iTunes service infringed seven of its patents. Apple challenged the case at the patent office, and in 2020 an appeals court reversed the decision.

PMC also has infringement cases against other companies, including Netflix Inc (NASDAQ: NFLX), Amazon.com, Inc (NASDAQ: AMZN) and Alphabet Inc’s Google (NASDAQ: GOOG) (NASDAQ: GOOGL).

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.