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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Apple Inc | NASDAQ:AAPL | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10.75 | 6.21% | 183.78 | 183.35 | 184.00 | 187.00 | 182.66 | 186.645 | 163,224,774 | 05:00:00 |
From May 2019 to May 2024
A Texas jury ordered Apple Inc. to pay $532.9 million after finding that the company's iTunes software infringed three patents of privately held Smartflash LLC.
Representatives for the two companies weren't immediately available Wednesday for comment. Shares of Apple slid about 0.4% in premarket trading.
Smartflash owns three patents related to data storage and payment management. The Tyler, Texas, company alleged that, in 2000, patent co-inventor Patrick Racz shared his ideas with Augustin Farrugia, then a member of the tech company Gemplus International SA. Mr. Farrugia is now a senior director at Apple.
Smartflash, which doesn't make its own products, claimed that Apple violated the patents by using the technology in managing apps sold through its iTunes store, such as "Coin Dozer Pro" developed by Game Circus LLC and "Grub Guardian" and "WizardBlox," developed by Kingsisle Entertainment Inc. The latter two companies had been defendants before being dismissed from the case.
Smartflash had sought $852 million in damages.
The Texas jury decided that Apple had willfully infringed all three patents, and that Apple hadn't proven the patents were invalid.
Smartflash has filed similar cases against Google Inc. and Samsung Electronics Co.
Write to Angela Chen at angela.chen@dowjones.com
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