financetom
Business
financetom
/
Business
/
Amazon's AWS Appeals $672.7 Million Penalty in Kove Patent Infringement Lawsuit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amazon's AWS Appeals $672.7 Million Penalty in Kove Patent Infringement Lawsuit
Sep 22, 2024 6:45 AM

02:59 PM EDT, 09/19/2024 (MT Newswires) -- Amazon.com's ( AMZN ) Amazon Web Services appealed a federal court ruling that ordered the company to pay $672.7 million to Kove IO in a patent-infringement lawsuit, according to a court filing Wednesday.

The Amazon ( AMZN ) subsidiary asked Judge Matthew F. Kennelly of the US District Court for the Northern District of Illinois to pause the enforcement of the penalty without having to post a bond.

In the Wednesday filing, AWS said the cost of posting a bond would be "a waste of money" since Amazon's ( AMZN ) "financial situation is not in doubt."

Kove sued Amazon Web Services in December 2018 alleging the Amazon ( AMZN ) subsidiary's Simple Storage Service used its patented technology without authorization.

In April 2023, a jury ruled in favor of Kove, determining that AWS had infringed on three of the company's patents. In August of the same year, Judge Kennelly tacked on an additional $147.7 million in prejudgment interest for a total penalty of $672.7 million.

Price: 189.64, Change: +3.21, Percent Change: +1.72

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
ImmunityBio Plans Public Offering of Common Stock
ImmunityBio Plans Public Offering of Common Stock
Dec 10, 2024
05:32 PM EST, 12/10/2024 (MT Newswires) -- ImmunityBio ( IBRX ) said Tuesday it plans to offer and sell common shares in an underwritten public offering. The company said it expects to give its underwriters, a 30-day option to buy up to an additional 15% of the number of common shares sold in the offering. ImmunityBio ( IBRX ) plans...
Major food companies accused of marketing 'addictive' food to kids
Major food companies accused of marketing 'addictive' food to kids
Dec 10, 2024
Dec 10 (Reuters) - Major food companies, including Kraft Heinz ( KHC ), Mondelez ( MDLZ ) and Coca-Cola, were hit with a new lawsuit in the U.S. on Tuesday accusing them of designing and marketing ultra-processed foods to be addictive to children, causing chronic disease. The lawsuit was filed in the Philadelphia Court of Common Pleas by Bryce Martinez,...
NewAmsterdam Pharma Starts $300 Million Offering of Shares, Prefunded Warrants
NewAmsterdam Pharma Starts $300 Million Offering of Shares, Prefunded Warrants
Dec 10, 2024
05:32 PM EST, 12/10/2024 (MT Newswires) -- NewAmsterdam Pharma ( NAMS ) started a $300 million underwritten public offering of ordinary shares and prefunded warrants to certain investors. Underwriters in the offering will have a 30-day option to purchase up to an additional $45 million of ordinary shares, the company said Tuesday in a statement. The proposed offering is subject...
Update: Market Chatter: President Biden to Formally Block Proposed Acquisition of US Steel by Nippon Steel
Update: Market Chatter: President Biden to Formally Block Proposed Acquisition of US Steel by Nippon Steel
Dec 10, 2024
05:36 PM EST, 12/10/2024 (MT Newswires) -- (Adds US comment in fifth and sixth paragraphs.) US Steel (X) slumped Tuesday, closing almost 10% lower, following reports that President Joe Biden plans to formally block the proposed $14.1 billion acquisition of the company by Japan's Nippon Steel, Bloomberg reported Tuesday, citing people familiar with the matter. It's not exactly clear when...
Copyright 2023-2026 - www.financetom.com All Rights Reserved