Facebook Ordered To Pay $500 Million In Oculus Lawsuit | Forbes

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.

Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s