Monday, December 27, 2010

SAP AG (NYSE:SAP) Battling $211.7 Million Interest Charge in Oracle (Nasdaq:ORCL) Case

Although SAP AG (NYSE:SAP) intends to battle the overall verdict in the copyright case they lost to Oracle (Nasdaq:ORCL), they added that the $211.7 million in interest also awarded by the jury is "duplicative."

SAP said, “Even if prejudgment interest were not duplicative, the jury’s award, if it stands, more than adequately accomplishes the goals” in relationship to copyright protections, concluding the jury award “fully compensates, and, really, overcompensates Oracle."

In November a jury ruled that SAP AG did infringe upon a copyright of Oracle and awarded them $1.3 billion, including the $211.7 million in interest.

Oracle maintains the interest should go back as far as 2005 and 2006, when SAP should have at that time negotiated for a license for the software copyrights they infringed upon.

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