(RTTNews) - Burford Capital Limited (BUR, BUR.L) issued a statement regarding the verdict, in a case captioned Taction Technology, Inc. v. Apple Inc., which represents one of the largest patent verdicts in U.S. history. On September 25, a jury in a case in which Burford has a financial entitlement awarded $5.7 billion in damages to the plaintiff. If the verdict amount were paid, as is, Burford's entitlement would be $1.4 billion, split roughly equally between Burford's balance sheet and its investment funds. Burford said the issuance of the jury verdict does not represent a final judgment or cash proceeds received by Burford. The company noted that very few large patent verdicts survive the post-verdict process intact, and that process will unfold over a considerable period of time.
The case remains subject to significant litigation and collection risks, including potential post-trial and appellate proceedings.
At last close on LSE, Burford Capital shares were trading at 276.20 pence.