Akoustis Technologies Inc (NASDAQ:AKTS) shares are trading lower by 48% to $0.19 during Monday’s session after the company announced that a jury in the U.S. District Court for the District of Delaware ruled in favor of Qorvo Inc. in a lawsuit against Akoustis.
Although some of Qorvo’s claims were dismissed or decided in Akoustis’ favor, the jury found that Akoustis willfully misappropriated Qorvo trade secrets and infringed on two Qorvo patents. Akoustis was ordered to pay $38.6 million in damages. Akoustis plans to contest the verdict through post-trial motions and potentially ...
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