After unsuccessfully appealing a verdict, Intel will fork over $2 billion to VLSI Technology LLC. 💸 🔥
In March, jurors found Intel guilty of patent infringement. The two violations cost $1.5 billion and $675 million, and they’ll be awarded to NXP Semiconductors (owner of VLSI).
Intel attempted to toss the jury verdict, claiming the jury “was tainted by erroneous jury instructions and evidentiary rulings.” Intel’s strategy was unsuccessful. According to Intel, the verdict is the second-largest jury ruling in a patent case. The other three-largest verdicts were ultimately vacated.
The company has been engaged in a legal campaign with VLSI. In April, a jury ruled in Intel’s favor regarding a separate infringement suit.
Unfortunately for Intel, the company will be writing a big check in its near-future. 👎