Hearing implant manufacturer Cochlear has been denied a rehearing of an appeal in a patent dispute which resulted in a massive penalty being awarded against the company.
The Sydney company has petitioned for a rehearing of a judgement in the US District Court which awarded US$268 million in patent infringement damages against Cochlear in a lawsuit filed by the Alfred E. Mann Foundation for Scientific Research and Advanced Bionics LLC.
Now, that judgement will become final on 26 May, 2020.
The court will enforce a payment of US$280 million, likely this financial year, which includes interest.
A decision in the US District Court is pending on AMF and AB’s application for further interest and court costs amounting to US$138 million.
Cochlear has made provision for these patent losses and recently completed an $880 million capital raising.
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