Intel Corp (INTC)

[chipguy]

Oracle ordered to pay HP $3 billion in Itanium case

https://ca.finance.yahoo.com/news/oracle-ordered-pay-hp-3-011157549.html

SAN FRANCISCO (Reuters) - A California jury ordered Oracle Corp (NYSE:ORCL - News) to pay Hewlett-Packard Enterprise Co (NYSE:HPE - News) $3 billion in damages in a case over HP's Itanium servers, an Oracle spokeswoman said on Thursday.
Oracle said it would appeal the verdict.
The Itaniuum processor is made by Intel Inc (NasdaqGS:INTC - News).


The legal shot Hurd around the world. I guess leisure suit Larry won't
be buying a new yacht this year.

http://www.bloomberg.com/news/articles/2016-06-30/oracle-ordered-to-pay-hp-3-billion-by-jury-for-itanium-damages

The jury saw the case as clear cut and were swayed by what they saw as efforts by Ellison and former HP Chief Executive Officer Mark Hurd to hurt his previous employer, said juror Kyra Knaver, a student at Loyola Marymount University in Los Angeles. Ellison lured Hurd to Oracle in 2010 shortly after Hurd resigned amid an investigation into his relationship with a contractor.
Jurors in state court in San Jose, California, reached the unanimous verdict in less than five hours of deliberations Thursday, concluding that Oracle’s decision to bail out of an agreement to develop software for the Itanium chip hurt HP’s revenue. Oracle said it will appeal the verdict, which is the largest in the U.S. this year according to data compiled by Bloomberg News.
“Oracle’s decision to stop future software development on the Itanium server platform in March of 2011 was a clear breach of contract that caused serious damage to HP and our customers,” Hewlett Packard Enterprise Co. said in an e-mailed statement.
The decision is the second trial defeat for Oracle in about a month after the company lost a $9 billion verdict to Google while trying to stake a claim to the search giant’s Android phone business. The $3 billion award, if ultimately paid, would account for 5.4 percent of Oracle’s $56 billion cash on hand, according to data compiled by Bloomberg.