Facebook’s Oculus has been ordered to pay $500 million after a jury found that Oculus co-founder Palmer Luckey violated a non-disclosure agreement, according to Polygon.
It could have been a lot worse. The jury also found Oculus innocent of the most serious allegations — that the virtual reality company’s founders had stolen trade secrets — in particular, code that would help in the development of the company’s Oculus Rift VR system. The lawsuit, brought by gaming company Zenimax, sought $4 billion in total damages.
The lawsuit was first filed in May 2014, just months after Facebook acquired Oculus in a deal that at the time was reported to be worth $2 billion and signified the social network’s entry into VR. The trial, held in a U.S. District Court in Dallas, Texas, featured testimony from Facebook CEO Mark Zuckerberg and surfaced an interesting detail — that employee retention and earn-out bonuses brought the price tag to $3 billion. Read more…
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Originally syndicated from Facebook ordered to pay $500 million over Oculus VR lawsuit — but still comes out a winner
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