- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
A federal jury has ruled that Apple’s (NASDAQ:AAPL) iPhone infringes on three patents owned by non-practicing entity MobileMedia Ideas, which is jointly owned by Sony (NYSE:SNE), Nokia (NYSE:NOK), and MPEG LA. Apple earlier tried to get the case dismissed after citing prior art, but Judge Sue L. Robinson denied the iPhone maker’s request.
Thursday’s ruling, from the U.S. District Court in the District of Delaware, was made on a case that originated from a 2010 complaint by MobileMedia that accused Apple of being in violation of 14 patents owned by it. However, the final case involved only three patents. One is for the iPhone’s camera, while the other two cover call handling and call rejection, Bloomberg said.
Our 20-page proprietary analysis of Apple’s stock is ready. Click here to get your Cheat Sheet report now.
MobileMedia said in its case that it was in the business of licensing its portfolio of about 300 patents and would suffer “irreparable injury” if Apple continued using the intellectual property without paying royalties.
“We’re very pleased,” MobileMedia chief executive Larry Horn told Bloomberg after the ruling. “We think it’s justified.” Horn said the damages, which Judge Robinson is yet to schedule a trial for, could be “substantial.”
Don’t Miss: Is Apple Getting More Powerful?
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.