A jury in Dallas, Texas ordered Facebook to pay video maker ZeniMax $500 million after concluding that Oculus founder Palmer Luckey violated a non-disclosure agreement, according to published reports. The same jury rejected claims by ZeniMax that Oculus had misappropriated its intellectual property.
While the award, which is likely to be appealed, is sizable, it is less than the $2 billion in damages ZeniMax sought, and it isn’t likely to significantly affect Facebook, which has more than $29 billion on its balance sheet. Facebook shares, which were up on Wednesday, barely budged following reports of the judgement. They shot up more than 2% in after hours trading after Facebook reported financial results.