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Cisco Systems Shares Remain Stable Despite Lawsuit

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A U.S. judge on ordered Cisco techniques Inc to cover $1.9 billion to a Virginia company that accused it of copying its cybersecurity patents Monday.

U.S. District Judge Henry Morgan in Norfolk, Virginia, concluded following a monthlong test that is non-jury Cisco infringed four patents belonging to Centripetal Networks Inc, of Herndon, Virginia. He found no infringement of a patent that is fifth.

In a decision that is 167-page Morgan said the case was “not a close call,” citing inconsistencies in Cisco’s evidence and that its own technical documents, many of which Centripetal it self introduced at trial, “proved Centripetal’s case.”

The payout includes an $1.89 billion award, reflecting $755.8 million in actual damages suffered by privately held Centripetal multiplied by 2.5 to reflect Cisco’s egregious and willful conduct, plus prejudgment interest.

“Cisco would not advance any objectively defenses which are reasonable trial” as to the four patents, Morgan wrote. A U.S. judge on ordered Cisco techniques Inc to cover billions.

“The infringing functionality was included with their accused products post June 20, 2017, and triggered a increase that is dramatic sales which Cisco touted in both technical and marketing documents,” he added.

Cisco said it was disappointed with your choice, “given the evidence that is substantial of, invalidity and that Cisco’s innovations predate the patents by many years.”

The San Jose, California-based company plans to appeal to the U.S. Federal Circuit Court of Appeals.

Cisco posted $11.2 billion of net income on $49.3 billion of revenue in its latest year that is fiscal.

Centripetal had been founded in 2009 and centered on using danger intelligence software and firewall hardware to protect networks that are cyber.

The court rejected the primitive doctrine that might makes right,” Paul Andre, a lawyer for Centripetal, stated in a statement with this judgment. “This is a win that is significant all small, innovative companies.”

The case is Centripetal Networks Inc v Cisco Systems Inc, U.S. District Court, Eastern District of Virginia, No. 18-00094.

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Justin N. Richards

Justin N. Richards is a Florida-based technical analyst, market researcher, educator, and trader. Justin began his career in Chicago in 2001 performing futures market analysis for floor traders at the Chicago Board of Trade and the Chicago Mercantile Exchange. He also worked for numerous brokerage firms during that time, all of which hold him in high regard, and he has been providing outstanding analysis services for traders worldwide ever since. Mr. Richards is an expert in the area of market patterns, price and time analysis as it applies to futures, Forex, and stocks. In addition to these talents, he provides educational services for investors looking to improve their analysis and trade skills. Justin has a B.A. in Business Administration from UCLA and an M.S. in Financial Markets and Trading from the Illinois Institute of Technology. Justin’s professional experience, education, and discipline, not only make him an exceptional analyst, they point him out as a reliable, hard working and intelligent business strategist who is dedicated to his craft.
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