Apple vs. Samsung Takes an Unexpected Turn
A judge presiding over the post-trial hearing in the famous Apple (NASDAQ:AAPL) versus Samsung court case in California appears set to reduce the $1.05 billion jury verdict against the Korean company.
What is the Post-Trial Hearing Considering?
U.S. District Judge Lucy Koh did not say how she would rule on the sales ban request made by Apple against Samsung products found to be in violation of several of its patents, or how much of the $1.05 billion award she could possibly reduce. However, the judge is said to be reviewing the 26 line items listed by the jury in August while calculating the verdict it handed out.
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Koh added on Thursday that she would issue a series of rulings over the next few weeks to address the many legal issues at hand, but urged the two companies to settle their differences. “I think it’s time for global peace,” Koh told lawyers for the two companies during a court hearing on Thursday in San Jose, California, the Associated Press said.
What Have the Two Companies Asked For?
While Apple has asked the judge to add to the award and permanently ban U.S. sales of eight Samsung devices, the Korean company is seeking a new trial or at least a reduction of the verdict. Koh is also considered Samsung’s demand for a retrial on allegations of jury misconduct…
One of the arguments it has made is that jury foreman Velvin Hogan did not divulge that he had previously been sued by his former employer and Samsung partner, Seagate Technology (NASDAQ:STX).
CHEAT SHEET Analysis: Catalysts for a Stock’s Movement
One of the core components of our CHEAT SHEET investing framework focuses on the possible forces affecting the stock’s movement. Koh’s rulings will be closely watched because of the clout held by Samsung and Apple, the world’s two largest smartphone sellers. In the third quarter, Samsung sold 55 million smartphones globally to Apple’s 23.6 million, making up 32.5 percent and 14 percent of the market, respectively. The two are involved in legal battles in several other countries. Apple also filed a second lawsuit earlier this year that named some of Samsung’s newer Google (NASDAQ:GOOG) Android products, and the Korean company returned the favor in a countersuit. That case is set to go to trial in 2014.
This particular case is also expected to head to the U.S. Court of Appeals for the Federal Circuit eventually.
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