Litigation finance firm Burford Capital announced that a recent jury verdict against Apple Inc. could yield them up to $1.4 billion. The verdict, issued on September 25, 2026, awarded Taction Technology, Inc. $5.7 billion in damages from Apple in a patent infringement case. Burford has a financial entitlement in this case, and if the $5.7 billion verdict were to be paid as is, Burford's share would be approximately $1.4 billion, split evenly between its balance sheet and investment funds. This ruling has been noted as one of the largest patent verdicts in US history and caused Burford's shares to rise by 9% in early London trading following the announcement.
However, Burford cautioned that the $1.4 billion figure is not guaranteed and is subject to significant challenges. The verdict is not a final judgment, and Apple is expected to pursue post-trial proceedings, including a motion to set aside the jury's verdict, and potential appeals to the U.S. Court of Appeals for the Federal Circuit. Historically, very few large patent verdicts survive these processes intact, and the final resolution could take a considerable amount of time. The company emphasized that the outcome remains uncertain, and it could recover substantially less than $1.4 billion, or even incur a total loss, depending on future proceedings or potential settlements at lower amounts.
The case involved Taction Technology's claim that Apple's Taptic Engine in iPhones and Apple Watches unlawfully uses its patented vibration technology. Taction had sued Apple in 2021, alleging unauthorized use of its inventions. Apple, in turn, denied the allegations, disputing the validity of the claims and arguing insufficient evidence of infringement. This potential windfall for Burford follows a setback in March, when a U.S. appeals court overturned a $16 billion award related to an Argentinian oil company, YPF, which had caused Burford's shares to drop by 54% at the time. The current situation highlights the inherent risks and potential rewards in litigation finance.
