A Jury Just Ordered Facebook (FB) To Pay $500M For This
Author By Sophia VidaPosted on Facebook’s purchase of Oculus from 2014 may be costing the company more money than they expected.
A federal jury has found that Oculus infringed trademarks and copyrights ZeniMax Media held on virtual reality technologies. This means that Oculus and its co=founders are being ordered to pay $500 million in damages.
If Facebook appeals, a judge could lower the amount.
In its suit, ZeniMax Media had initially sought $2 billion. John Carmack is a former ZeniMax employee and video game programer who ZeniMax accused of providing trade secrets related to virtual reality technology to Oculus co-founder Palmer Luckey.
ZeniMax alleged that Luckey then used to create the Oculus Rift headset.
While Oculus was found liable for infringing ZeniMax’s intellectual property, Luckey was cleared of the trade-secret misappropriation claim by the jury.
Disclaimer: We have no position in Facebook, Inc. (NASDAQ: FB) and have not been compensated for this article.
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