Jury Awards $85.23 Million in damages to WiLAN in Patent Suit against Apple
OTTAWA, Jan. 24, 2020 /CNW/ - Wi-LAN Inc. ("WiLAN"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF), today provided an update on ongoing litigation.
In a damages-only re-trial in the United States District Court for the Southern District of California commenced on January 21, 2020, the jury rendered its verdict today awarding WiLAN $85.23 million in damages owed to WiLAN by Apple Inc. ("Apple") for the infringement of WiLAN's US patent Nos 8,457,145 and 8,537,757 ("Patents").
In a previous related trial verdict rendered on August 1, 2018 in the same court, the jury in that case found that Apple infringed the Patents and awarded WiLAN $145.1 million in damages. In a subsequent hearing after that 2018 verdict, the court affirmed the jury's finding of infringement but ordered another trial solely on damages which resulted in today's new verdict.
WiLAN, a Quarterhill company, is one of the most successful patent monetization companies in the world and partners with its customers to unlock the value of intellectual property through various patent monetization models. WiLAN operates in a variety of markets including automotive, digital television, Internet, medical, semiconductor and wireless communication technologies. For more information: www.wilan.com.
Quarterhill is focused on the disciplined acquisition, management and growth of companies in dedicated technology areas including, vertical market software and solutions, intelligent industrial systems, and innovation and licensing. Quarterhill's emphasis is on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows and margins, profitable growth, intimate customer relationships and dedicated management teams. Quarterhill is listed on the TSX under the symbol QTRH. For more information: www.quarterhill.com.
This news release contains forward-looking statements and forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other United States and Canadian securities laws. Forward-looking statements and forward-looking information are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. Many factors could cause Quarterhill's actual performance or achievements to differ materially from those expressed or implied by the forward-looking statements or forward-looking information. Such factors include, without limitation, the risks described in its February 28, 2019 annual information form for the year ended December 31, 2018 (the "AIF"). Copy of the AIF may be obtained at www.sedar.com or www.sec.gov. Quarterhill recommends that readers review and consider all of these risk factors, and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Wi-LAN Inc.
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