Intel To Pay $2.18B Penalty To VLSI Tech For Patent Infringement: Reuters

by Anusuya Lahiri, Benzinga Staff Writer

March 3, 2021 8:23 AM | 1 min read | Make a Comment

Intel Corp (NASDAQ: INTC) lost the patent infringement case against VLSI Technology LLC and will have to pay a penalty of $2.18 billion under a federal jury ruling, Reuters reports.
The penalty included $1.5 billion and $675 million for the infringement of the first and second patent, respectively.
Intel did not subscribe to the ruling and intends to file an appeal.
The patents were initially issued to Freescale Semiconductor and Sigmatel in 2009, 2010, and 2012. Further, the earliest of the patents was filed in 2005. However, Bloomberg contradicted the claim by stating that they were assigned to the Fortress Investment Group owned VLSI in 2019.
Price action: INTC stock is down by 0.29% at $61.06 in the premarket trading session on the last check Wednesday.

Posted In: News Legal Tech Media Patent Infringement

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.