Thursday, August 2, 2012

Apple Inc.(NASDAQ:AAPL) Rebound Strongly From $600, Now Up 0.50%

On Wednesday, Apple Inc.(NASDAQ:AAPL) asked for urgent court sanctions against Korea's Samsung for making public excluded evidence in an on-going patent trial and making a statement to the press, thus breaching court protocol.

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Apple, in a letter to the trial judge, Lucy Koh, pointed out the breach, saying that it could influence jurors in taking their final decision.

The two, which together command over half of the smartphone market, are locked in a legal battle over patent infringement and allegations of copying designs, the damages from which could potentially result in billions of dollars in payouts.

Koh, acting on Apple's plea, asked Samsung to file an explanation for its action including details on who had drafted and approved the public statement and the press release.

Samsung responded by saying that the information released had already been in the public domain and that did not constitute a breach of court proceedings.

Apple is however going ahead with it sanctions plea.

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The Korean handset maker had made public designs of its phone along with references to a deposition made by ex-Apple designer Shin Nishibori.

In its press statement Samsung said that the evidence was proof that Samsung did not copy iPhones designs, an allegation by Apple which is at the crux of the whole matter.

Share of AAPL are trading 0.51% higher at $610 after hitting session low of $600.25. 

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