Apple's Taptic Engine patent defeat sends litigation funder's shares up 9%

A US jury ruled Apple's Taptic Engine infringes two Taction Technology patents, awarding $5.7 billion in damages. Taction sued Apple in 2021 over haptic feedback technology used in iPhones and Apple Watches since 2014. Apple plans to appeal. Litigation funder Burford Capital disclosed potential $1.4 billion entitlement from the verdict, sending its shares up 9.41%. Burford funded Taction through subsidiaries Kenosha Investments and Gronostaj Investments, with proceeds split between company balance sheet and investment funds.