Brief: Akoustis Technologies Says Jury Verdict Against Co In Matter Of Qorvo Versus Co, After Trial In U.S. District Court

Qorvo

20/05/2024 14:07

May 20 (Reuters) - Akoustis Technologies Inc  AKTS.O :
    * AKOUSTIS TECHNOLOGIES- AFTER TRIAL IN U.S. DISTRICT COURT
IN
MATTER OF QORVO VERSUS. CO, JURY VERDICT ENTERED IN FAVOR OF
PLAINTIFF, QORVO & AGAINST CO
    * AKOUSTIS TECHNOLOGIES INC - BELIEVES THAT ITS XBAW
PRODUCTS
INCORPORATING PREVIOUSLY DISCLOSED DESIGN UPDATES ARE NOT
AFFECTED BY VERDICT
    * AKOUSTIS TECHNOLOGIES INC - JURY AWARDED QORVO
APPROXIMATELY
$38.6 MILLION IN DAMAGES
    * AKOUSTIS TECHNOLOGIES INC - EXPECTS TO FILE POST-TRIAL
MOTIONS
SEEKING TO OVERTURN JURY'S VERDICT, OBTAIN A NEW TRIAL, AND/OR
AMEND JUDGMENT
    * AKOUSTIS- QORVO LITIGATION VERDICT SAW UNCERTAINTY ABOUT
CO'S
FINANCIAL CONDITION, MAY NEGATIVELY IMPACT CO'S ABILITY TO RAISE
ADDITIONAL CAPITAL

Source text for Eikon:  ID:n0001213900-24-044913 
Further company coverage:  AKTS.O 

 ((Reuters.Briefs@thomsonreuters.com;))