Apple Patent Loss Sends Shockwaves Through Stock Market with Burford Capital Reaping Huge Benefits
A recent patent loss for Apple has sent shockwaves through the stock market. A jury ordered the tech giant to pay $5.7 billion to Taction Technology after ruling that the Taptic Engine inside devices like the Apple Watch infringes on existing patents.
The verdict has led to a significant increase in shares of Burford Capital, the legal finance company that funded the lawsuit against Apple. Shares surged more than 9 percent on Monday, with the company standing to earn over $1.4 billion if Apple pays the full penalty.
Burford explained in a statement that it will split the payout roughly in half between its own balance sheet and investment funds. However, the company warned investors that seeing the full amount is highly unlikely, as legal matters of this size usually settle for far less than the initial jury verdict.