Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

SAP must pay Oracle interest on $1.3B verdict

By David Goldman, staff writer


NEW YORK (CNNMoney.com) -- Corporate software company SAP must pay rival Oracle millions of dollars in interest on a $1.3 billion copyright infringement verdict, a U.S. district judge ruled this week.

Judge Phyllis Hamilton did not say exactly how much interest SAP would have to pay, but she used a methodology that SAP estimated would cost it about $16.5 million.

The court's decision was a compromise between Oracle's and SAP's demands. Oracle had asked for SAP to pay $211 million in interest on the penalty, but SAP said it should not have to pay any interest at all.

Instead, the judge ruled that there was precedent for such an interest payment, which would require SAP to pay Oracle compound interest on the fine at a rate equal to the weekly average yield of the one-year Treasury bond at the time of the ruling, which was 0.3%. SAP will have to pay interest dating back to Sept. 29, 2006.

Last month, a jury awarded Oracle the $1.3 billion sum for copyright infringement by SAP's now-defunct software maintenance unit, TomorrowNow. SAP admitted to the wrongdoing, but had offered just a $40 million settlement. The company said it would appeal the ruling if it is not overturned in post-trial motions. To top of page

Search for Jobs

Index Last Change % Change
Dow 19,614.81 65.19 0.33%
Nasdaq 5,417.36 23.59 0.44%
S&P 500 2,246.19 4.84 0.22%
Treasuries 2.39 0.04 1.70%
Data as of 8:29am ET
Company Price Change % Change
Bank of America Corp... 22.95 0.38 1.68%
Chesapeake Energy Co... 7.60 0.02 0.26%
Ford Motor Co 13.03 -0.03 -0.23%
Wells Fargo & Co 57.29 0.01 0.02%
Micron Technology In... 20.66 0.22 1.08%
Data as of Dec 8
Sponsors

Sections

Andy Puzder, Trump's choice for Labor secretary, thinks it's great that his restaurants use racy ads to sell hamburgers. More

Trump says he sold all his stocks in June. But what about his hedge funds? He was (and may still be) invested in three run by John Paulson, a major campaign donor. More

Apple is investing in businesses run by China's largest wind-turbine maker -- but the move isn't part of any plan to build wind-powered gadgets. More