Jury Verdict Entered In U.S. District Court For BlueRadios And Awarding ~$5.1M In Damages; Recommends $19.7M In Disgorgement And Exemplary Damages
Portfolio Pulse from Benzinga Newsdesk
A U.S. District Court jury has ruled in favor of BlueRadios, awarding approximately $5.1 million in damages and recommending an additional $19.7 million in disgorgement and exemplary damages against Kopin Corporation. The Court is yet to make a final ruling. Kopin's CEO, Michael Murray, expressed disappointment with the verdict and is considering an appeal.

April 23, 2024 | 1:07 pm
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Kopin Corporation faces a jury verdict awarding BlueRadios ~$5.1M in damages, with a recommendation for $19.7M more in damages. The final ruling is pending, and Kopin's CEO is considering an appeal.
The jury verdict against Kopin Corporation represents a significant financial liability, which could negatively impact its financial health and investor sentiment in the short term. The possibility of an appeal adds uncertainty to the company's future financial outlook. Given the substantial amount involved and the negative publicity, it's likely that Kopin's stock price could face downward pressure as investors digest the news and assess the potential impact on the company's financial stability and future earnings.
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IMPORTANCE 90
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