Apple Ordered to Pay $5.72 Billion in Damages to Taction Technology for Patent Infringement

A judge ruled that a class action lawsuit against Apple Inc. by banks and credit unions can proceed. The plaintiffs allege Apple's exclusion of competing wallets from iPhones has cost them up to $1 billion yearly in fees. Apple charges 0.15% for credit card payments and $0.005 for debit transactions. The case, filed in 2022, seeks fee refunds and practice changes. Apple did not comment.

A California jury awarded Taction Technology $5.7 billion in damages for Apple's infringement of two patents related to haptic feedback systems used in iPhones and Apple Watches. The jury found Apple infringed the patents but did not deem the conduct willful. Apple plans to appeal, stating it does not use Taction's technology and disputes the verdict.

Burford Capital claims a $1.4 billion share from a $5.7 billion verdict against Apple for patent infringement. The amount may change in post-trial proceedings. Apple plans to appeal. Burford's stock rose 12% Monday.

A jury ordered Apple to pay $5.7 billion in a haptic technology patent case involving Taction, the largest such verdict in U.S. history. Apple plans to appeal, while Taction's attorney expressed satisfaction with the outcome. The lawsuit was filed in 2021, with Apple denying the allegations and arguing the patents were invalid.

A London-listed litigation funder may receive a $5.7 billion payout after a jury ruled that Apple used patented technology from a local company in its iPhone products, according to the article.

Apple and Amazon face a revived UK lawsuit alleging price fixing and limiting sales of Apple products on Amazon's marketplace. The UK's Competition Appeal Tribunal allowed part of the lawsuit to proceed, potentially exposing the companies to $383 million in damages. Both companies deny the allegations, with Apple stating its agreement with Amazon aimed to combat counterfeit products.