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Odetics Awarded $70.4 Million in Patent Case

March 28, 1998|(Bloomberg News)

A federal jury awarded $70.4 million to Anaheim-based Odetics Inc. after finding a Colorado company, Storage Technology, deliberately infringed on an Odetics patent related to data storage in network computing. The federal judge hearing the case in Virginia could triple the award and order Storage Technology to take other actions after a hearing April 17. Storage Technology, based in Louisville, Colo., said that it would appeal the verdict and that it has designed alternate technology so that its customers won't be seriously affected. Odetics lost an earlier case against Storage Technology in 1996, but an appeals court ordered a new trial. News of the verdict was released after the stock markets closed. Odetics was unchanged at $6.44, while Storage Technology was up 25 cents to $75.50.

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