|Jury Awards $1.3b in Oracle VS SAP Case|
(This article is from IPT.net, and we put it here only for our internal members to study and research. If it violates the author’s copyright, please send e-mail to email@example.com, and we will delete it immediately.)
The jury has reached its verdict in the Oracle VS SAP court case and it may just be the biggest payout for copyright infringement yet. SAP AG must pay Oracle Corp $1.3 billion for software theft.
Oracle's shares rose 1.5% on the news, while SAP stock slid 1.4%.
Europe's top software maker said it was disappointed by the verdict, while the Oracle team shook hands and congratulated each other.
SAP could now try and get the dollar amount reduced by the trial judge, or in a court of appeal.
"We are, of course, disappointed by this verdict and will pursue all available options, including post-trial motions and appeal if necessary. This will unfortunately be a prolonged process and we continue to hope that the matter can be resolved appropriately without more years of litigation. The mark of a leading company is the way it handles its mistakes," SAP said in a statement on their website in response to the verdict.
SAP has acknowledged that its TomorrowNow subsidiary wrongfully downloaded millions of Oracle's files.
"As stated in court, we regret the actions of TomorrowNow, we have accepted liability, and have been willing to fairly compensate Oracle," the statement said.
Initially SAP estimated the damages were no more than $40 million, while Oracle sought at least $1.65 billion.
Oracle President Safra Catz commented:
"For more than three years, SAP stole thousands of copies of Oracle software and then resold that software and related services to Oracle's own customers. Right before the trial began, SAP admitted its guilt and liability; then the trial made it clear that SAPs most senior executives were aware of the illegal activity from the very beginning. As a result, a United States Federal Court has ordered SAP to pay Oracle $1.3 billion. This is the largest amount ever awarded for software piracy."
The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.
Published on our website on Nov.26, 2010