Will These Apple Secrets Be Revealed?
Apple (NASDAQ:AAPL) is known to be extra shy about its financial particulars, but its recent legal dealings are making it harder and harder for the company to stick to that rule. Judge Lucy Koh, who presided over the case in which the jury famously awarded Apple more than $1 billion in damages against Samsung in August, has denied the iPhone maker’s motion to keep financial specifics from the lawsuit sealed.
While Apple does report unit sales figures each quarter, it does not divulge how much profit it makes on each product.
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Although Judge Koh agreed to a temporary stay pending federal court appeal, as the papers are related to earnings and profits numbers, she said that Apple had not provided sufficient arguments to classify the documents as “trade secrets”. The judge added that her earlier order had found that “unit sales, revenue, profit, profit margin, and cost data do not meet the ‘compelling reasons’ standard.”
The judge had originally denied the request to keep the Damages Motion sealed because Apple was seeking an addition of $535 million on top of the $1.05 billion awarded by the jury as well as permanently bans on the sale of 26 Samsung products. “As Apple appears to have realized in introducing that exhibit, it cannot both use its financial data to seek multi-billion dollar damages and insist on keeping it secret,” Judge Koh wrote in her order. “The public’s interest in accessing Apple’s financial information is now perhaps even greater than it was at trial.”
Samsung, meanwhile, is seeking a new trial altogether after claiming jury misconduct.
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