56.5 F
Laguna Hills
Thursday, Feb 29, 2024
-Advertisement-

Masimo Notches Victory Against Apple

Appeals court says ban on Apple watches to go into effect

An appeals court has upheld a ban on Apple Inc.’s importation of watches, marking a significant victory for Irvine-based Masimo Corp.

Apple cannot sell its Series 9 and Ultra 2 models in the U.S., an appeals court ruled on Wednesday. The ban takes effect at 2 p.m. Pacific Time on Jan. 18.

The U.S. International Trade Commission in October announced the ban, ruling that Apple was unlawfully using Masimo’s pulse oximetry technology. After the ban took effect on Dec. 26,  the appeals court temporarily halted it to hear arguments from Apple.

“The Federal Circuit’s decision to lift the temporary stay is a victory for the
integrity of the American patent system and the safety of people relying on pulse
oximetry,” Masimo Chief Executive Joe Kiani said in a statement. “It affirms that even the
largest and most powerful companies must respect the intellectual rights of
American inventors and must deal with the consequences when they are caught
infringing others’ patents.”

Apple is appealing the ITC decision in a legal fight that could take a year, reported Reuters, which first broke today’s news.

Shares of Masimo today rose 2.1% to $122.57 and a $6.5 billion market cap. The shares are up about 52% since October when the ITC originally announced its ban decision.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-