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Tuesday, May 21, 2024
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Mistrial declared in Masimo-Apple case

Jurors rule 6-1 in Apple's favor

Masimo Corp.’s $1.8 billion lawsuit accusing Apple Inc. of stealing trade secrets for its watches was declared a mistrial late yesterday in a Santa Ana federal courtroom.

Six of the seven female jurors sided with Apple with one favoring Masimo in the dispute.

While we are disappointed that the jury was unable to reach a verdict, we intend to retry the case and continue to pursue legal redress against Apple,” said a Masimo statement.

“As we begin that process, the United States Trade Commission is scheduled in the coming months to decide whether to ban the importation of certain models of the Apple Watch, following a ruling last year by an Administrative Law Judge that Apple infringed one of Masimo’s patents for pulse oximetry,” Masimo said.

Apple in a statement thanked the jurors and said it doesn’t “take or use confidential information from other companies.”

Shares of the Irvine-based maker of oxygen monitoring equipment (Nasdaq: MASI) fell 3% in the trading session after the announcement before rebounding 1.9% to $186.76 the following day and a $9.8 billion market cap.  Apple shares (Nasdaq: AAPL) were off about 1% to $168.45 and a $2.7 trillion market cap.

 

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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.
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