Published on December 12th, 2018 | by Genevieve Mc Bride0
Zenimax Settles Facebook Lawsuit
Glad to see this was resolved and did not drag out.
ROCKVILLE, Md. (Dec. 12, 2018) — ZeniMax Media Inc. announced today that it had agreed to settle the litigation it brought against Facebook, Oculus and others for the unlawful misappropriation of its breakthrough VR technology that ZeniMax had developed. The case was tried in the Federal District Court in Dallas in January 2017, resulting in a jury verdict in favor of ZeniMax for $500,000,000, and other relief. Subsequently, the District Court reduced the damage award to $250,000,000, and the parties appealed to the U.S. Court of Appeals for the Fifth Circuit. The appeal was pending when the settlement was reached with Facebook. The terms of the settlement are confidential.
Robert Altman, ZeniMax’s Chairman and CEO, made the following statement regarding the resolution of the case: “We are pleased that a settlement has been reached and are fully satisfied by the outcome. While we dislike litigation, we will always vigorously defend against any infringement or misappropriation of our intellectual property by third parties.”