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.