NewsFacebook, Oculus Execs Must Pay $500 Million in VR Lawsuit

Facebook, Oculus Execs Must Pay $500 Million in VR Lawsuit

The jury has delivered a mixed verdict in the lawsuit that saw ZeniMax Media suing Oculus VR, which is owned by Facebook, over its virtual reality technology. ZeniMax Media will receive a total of$500 million in damages: $50 million from Palmer Luckey for violating a non-disclosure agreement (NDA), $150 million from former Oculus CEO Brendan Iribe for false designation and $300 million from Oculus for NDA violation, false designation and copyright infringement.

In an official statement, Facebook is emphasizing the fact that the jury did not find Oculus guilty of stealing trade secrets:

“The heart of this case was about whether Oculus stole ZeniMax’s trade secrets, and the jury found decisively in our favor. We’re obviously disappointed by a few other aspects of today’s verdict, but we are undeterred. Oculus products are built with Oculus technology. Our commitment to the long-term success of VR remains the same, and the entire team will continue the work they’ve done since day one – developing VR technology that will transform the way people interact and communicate. We look forward to filing our appeal and eventually putting this litigation behind us.”

View article

Get the Free Newsletter!

Subscribe to Developer Insider for top news, trends & analysis

Latest Posts

Related Stories