Author Topic: Facebook owes $500 million in VR lawsuit  (Read 623 times)

Offline Fujitsu

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Facebook owes $500 million in VR lawsuit
« on: February 02, 2017, 07:43:00 AM »
Facebook/Oculus was being sued for stealing some intellectual property in regards to their VR product Oculus Rift. In the end ZeniMax is getting a $500 million dollar payday (pending legal appeals and all that jazz). It appears that the Oculus troubles happened before Facebook purchased them for $2 billion, however, Facebook will be the one responsible for the damages now. This of course isn't going to hurt Facebook too much, just makes their venture into VR a little more expensive. CNBC has the full story.

                  Facebook's Oculus lost a case against game maker ZeniMax, leaving the tech company on the hook for $500 million. A jury ordered Facebook to pay $500 million in damages to ZeniMax due to theft of intellectual property on Wednesday.            Facebook's Sheryl Sandberg told CNBC's Julia Boorstin that she was "disappointed in certain elements of the decision." Sandberg added she was "considering our options to appeal," and the verdict was "not material to our financials."

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