Thursday, November 1, 2012

Apple v. Samsung Verdict of $1B Not Recognized in Apple Financials

Per Apple's 2012 10-K:

On August 24, 2012, a jury returned a verdict awarding the Company $1.05 billion in its lawsuit against Samsung Electronics and affiliated parties in the United States District Court, Northern District of California, San Jose Division. Because the award is subject to entry of final judgment and may be subject to appeal, the Company has not recognized the award in its consolidated financial statements for the year ended September 29, 2012. 

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