Burford Stock Climbs as Client Wins $5.7B Patent Verdict Against Apple

Burford Capital's stock surged on Monday after one of its clients was awarded $5.7 billion in damages in a patent lawsuit against Apple, sending shares climbing 9.8%.

The jury found that Apple had violated Taction Technology's haptics technology patents, a significant verdict for the tech giant.

Burford noted that the amount of the award is likely to be adjusted in post-trial and/or appellate proceedings, making it uncertain whether the full $5.7 billion will be paid out.

If the verdict stands, Burford's share would be around $1.4 billion, split between its balance sheet and investment funds.