Apple, Broadcom successful in getting patent judgement thrown out
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A U.S. Appeals court threw out a $1.1 billion judgement against Apple (NASDAQ:AAPL) and Broadcom (NASDAQ:AVGO) for patent infringement, Reuters reported.
The original judgement, which granted CalTech $878 million from Apple and $270 million from Broadcom, was handed down after a judge said the two companies infringed on patents owned by the university that were related to Wi-Fi used in iPhones and other Apple devices.
The U.S. Court of Appeals for the Federal Circuit said the award was not justified by the record and ordered a new trial, though no date has been set yet.
In September, Judge Timothy Dyk, who sits on the Federal Circuit panel, questioned whether the two tech giants infringed on the patents. He also wondered whether the district court was right to block both Apple (AAPL) and Broadcom (AVGO), who are represented by WilmerHale, from making certain invalidity arguments, Bloomberg Law reported in September.
Another judge, Judge Alan Lourie said at the time that the royalty rates "do not seem reasonable, they donât seem rational.â
The case is The California Institute v. Broadcom Ltd., Fed. Cir., No. 20-2222.
On Thursday, Morgan Stanley said that Apple's (AAPL) 10-Q showed signs of margin expansion, citing an improving supply chain.