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News on Medial
US Supreme Court won't review Apple's win against $503 million patent verdict
Economic Times
·
1y ago
Medial
The U.S. Supreme Court has denied patent-licensing company VirnetX's appeal to revive a $502.8 million jury verdict against Apple. The verdict was reached in a dispute over internet-security patents, with VirnetX claiming that Apple's iPhones and iPads infringed its patents relating to virtual private networks. The decision upholds a lower court ruling that overturned the verdict. VirnetX had challenged the U.S. Patent and Trademark Office's invalidation of its patents, but the courts have now upheld the decisions to invalidate them. The 14-year legal battle between the two companies continues.
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SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's
Economic Times
·
10m ago
Medial
The Supreme Court reserved its verdict on a US firm's plea against the National Company Law Appellate Tribunal (NCLAT) order that halted insolvency proceedings against Byju's. The court asked the insolvency resolution professional to maintain status quo until the judgment is delivered. The NCLAT had earlier set aside the insolvency proceedings against Byju's and approved its dues settlement with the BCCI. The Supreme Court questioned the NCLAT's decision and hinted at sending the dispute for fresh adjudication. The court stayed the NCLAT verdict and issued notices to Byju's and others.
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Byju's US lenders appeal insolvency-quashing order before India's Supreme Court
Economic Times
·
12m ago
Medial
Some lenders of India's education startup Byju's have appealed to the country's Supreme Court opposing the verdict that dismissed insolvency proceedings against the company. US-based Glas Trust filed an appeal challenging the tribunal's decision that allowed Byju's and the cricket control board to settle a $19 million payment case. Glas had previously opposed the settlement, claiming founder Byju Raveendran and his brother used the money owed to lenders to clear the cricket board's dues. The Supreme Court will review the appeal on Monday. Byju's has faced various challenges recently, including internal issues and disputes with investors.
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TCS to take $125 million hit to Q3 earnings over US lawsuit
Livemint
·
1y ago
Medial
Tata Consultancy Services (TCS) announced that it will set aside $125 million in its third-quarter results for a trade secret lawsuit filed by EPIC Systems. The US Supreme Court rejected TCS' appeal against a previous verdict, upholding an order for $140 million in punitive damages. EPIC Systems had accused TCS of stealing its intellectual property while implementing healthcare software.
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Gautam Adani's wealth rises by $5.6 billion amid market rally
Livemint
·
1y ago
Medial
Billionaire Gautam Adani's net worth surged by $5.6 billion following a market rally prompted by the Supreme Court hearing on the Hindenburg report-related matter. The court reserved its verdict on allegations of corporate fraud against the Adani Group, noting that it won't solely rely on media reports. Adani is now ranked 20th on the Bloomberg Billionaires Index with a fortune of $65.8 billion. Additionally, Adani Group stocks gained about $9.8 billion in market value, driven by market optimism after the ruling party's victory in state elections.
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Starbucks Wins at Supreme Court as Labor Board Power Curbed
Livemint
·
1y ago
Medial
The US Supreme Court has ruled in favor of Starbucks in a case against the National Labor Relations Board (NLRB), making it harder for the agency to obtain temporary reinstatement for workers fired during strikes. The Supreme Court ruled that federal judges should review NLRB requests for immediate court orders in the same way they would review preliminary injunction petitions in private litigation. The decision will slow down the process and increase the burdens for the NLRB in obtaining immediate court orders, weakening one of the agency's most effective tools in protecting workers' rights.
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Adani-Hindenburg case: Review petition filed in SC against January 3 verdict
Livemint
·
1y ago
Medial
A review petition has been filed in the Supreme Court challenging its January 3 verdict on the Adani Group stock price manipulation case. The petition argues that there were errors in the judgment and presents new material that warrants a review. The petition also claims that the Securities and Exchange Board of India (SEBI) did not disclose any findings or action taken in its investigation into the allegations. The Supreme Court had previously declined to order a Central Bureau of Investigation (CBI) or special investigation team (SIT) probe, citing SEBI's ongoing comprehensive investigation.
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SC halts CoC meetings at Byju’s; tells resolution professional to maintain status quo
Economic Times
·
10m ago
Medial
The Supreme Court has temporarily halted all meetings related to the insolvency proceedings of edtech firm Byju's. The court directed the interim resolution professional to maintain status quo and not hold any meetings of the creditors' committee. The SC reserved its verdict on an appeal by US lender GLAS Trust against the approval of a settlement deal between Byju's and its operational creditor, the Board of Control for Cricket in India (BCCI). The court questioned Byju's decision to settle its debt with BCCI while leaving substantial dues owed to other creditors.
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BYJU’S Glas Trust Case: SC Asks IRP To Maintain Status Quo Until Judgement
Inc42
·
10m ago
Medial
The Supreme Court has ordered the Insolvency Resolution Professional (IRP) to maintain the current situation until the court issues its verdict. The court has also expressed concerns about potential loopholes in existing laws that could allow settlements to bypass established procedures. This decision follows the previous day's questioning of the National Company Law Appellate Tribunal's (NCLAT) decision to dismiss bankruptcy proceedings against the troubled edtech startup.
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Google's plea against CCI order in android mobile device case mentioned in SC
Economic Times
·
10m ago
Medial
Google has informed the Supreme Court that the arguments in the case concerning its alleged anti-competitive practices in the Android mobile device matter could take up to five-six days. Last year, the National Company Law Appellate Tribunal upheld a fine of Rs 1,338 crore against Google but scrapped conditions related to hosting third-party app stores. The Supreme Court is hearing cross-pleas from Google and the Competition Commission of India challenging the appellate tribunal's verdict. The cross-pleas were listed for hearing on Thursday but are unlikely to be heard immediately.
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US Supreme Court snubs Epic Games legal battle with Apple
Economic Times
·
1y ago
Medial
The U.S. Supreme Court has rejected Epic Games' antitrust challenge against Apple's App Store policies. This decision is a setback for Epic Games in their ongoing legal battle with the iPhone maker. The court refused to hear Epic's appeal and also declined to hear Apple's appeal of a lower court's decision that restricted certain App Store rules.
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