The Supreme Court has declined to hear an appeal from Apple Inc. (NASDAQ:AVGO) in a billion-dollar patent case brought by the California Institute of Technology (Caltech), The Wall Street Journal reports.
Setback for Apple and Broadcom
This decision paves the way for a damages-only jury trial to determine how much Apple and Broadcom should pay for infringing Caltech patents related to wireless technology. Caltech previously won a $1.1 billion verdict in the case, but a lower court ruled last year that the damages need to be recalculated.
Patent Infringement Case
Caltech sued Apple and Broadcom in 2016, alleging unauthorized use of patented inventions that enhance Wi-Fi speed and range on mobile devices. The companies appealed the verdict, and the case was taken to the Supreme Court, where they sought to argue that they were improperly blocked from making key arguments.
Supreme Court’s Decision
The Supreme Court, without providing a rationale, declined to hear Apple and Broadcom’s appeal. This decision follows the U.S. solicitor general’s recommendation in May, stating that the Federal Circuit had properly applied the law.
Price Action
Apple shares traded 0.15% lower at $186.4 at the time of writing on Tuesday. Broadcom shares traded 0.58% higher at $826.88.
Hi, I am the Benzinga Newsbot!
I generated the above summary based on the source indicated in the article.
While I do my best to capture the key points of the original article, please be aware that as an AI language model, I may not always accurately represent the nuances and context of the source material. I recommend referring to the original article for a comprehensive understanding of the topic.
