Boston, MA 09/26/2014 (wallstreetpr) – Boston Scientific Corporation (NYSE:BSX) announced receiving a negative decree from a court that demands the company to pay as much as $308 million in patent infringement case.
Unfavorable Verdict
According to an article, the medical equipment manufacturer has been ruled to pay the sum of $308 million on pretext of damages to Mirowski Family Ventures LLC. The Montgomery County Circuit Court in Maryland issued a verdict against the company, it announced on Wednesday. The Court ruled that the company breached a licensing deal with the Firm, which enjoys patent privileges related to implantable cardiac stimulators.
In one of its regulatory filings, Boston Scientific Corporation (NYSE:BSX) reported the jury’s negative verdict asking $308 million in damages. However, the company highlighted that the statements and the law do not hold-up with the jury’s judgment. The company also claimed that the amount to be paid as compensation also does not comply with the findings. Presently, the company is planning to overturn the order in post-trial filings with the Circuit Court. It is even willing to seek to appeals procedures, if it feels the necessity, the company said.
The Concerned Lawsuit
The patent infringement case in talks concerns the 2011 complaint that Boston Scientific Corporation (NYSE:BSX) filed against Mirowski. In the lawsuit filed the U.S. District Court for South Indiana, the company had submitted a judgment that it has paid all due royalties to the firm. In addition, the filing also claimed that the company had not violated any contractual agreements of the license deal.
Mirowski had expressed its disagreement by filing counterclaims seeking damages from the infringement of its patented asset. In May, 2013, the firm submitted its filing in the Montgomery County Circuit Court, Maryland and later amended it in August, 2013.
In July, 2013, the Indiana lawsuit was discharged and in September, Boston Scientific Corporation (NYSE:BSX) transferred the case to Maryland Court.
