Apple, Samsung do not have to publicly disclose profits, court rules
Apple and Samsung will not have to publicly disclose the financial details both companies submitted to a U.S. court in the course of their ongoing patent litigation, according to a federal appeals panel.
The panel issued its decision on Friday, according to Reuters, reversing a lower court ruling that held that the companies would have to disclose their profit and sales information. The three-judge panel, in explaining its decision, aid the public's interest in the transparency of judicial proceedings does not extend to corporate financial information in this case.
"We recognize the importance of protecting the public's interest in judicial proceedings and of facilitating its understanding of those proceedings," the panel ruled. "That interest, however, does not extend to mere curiosity about the parties' confidential information where that information is not central to a decision on the merits."
Apple and Samsung have been locked in patent litigation for years, and prior to last year's $1.05 billion verdict in favor of Apple both companies submitted detailed sales and profit information to the court in order to calculate damages. Reuters and the First Amendment Coalition filed motions to reveal the companies' full financial information, as the copies of their filings released to the public had that information redacted.
In October of last year, Judge Lucy Koh denied Apple's request to keep its financial particulars sealed, saying that the iPhone maker's arguments were insufficient to establish the information as "trade secrets." The U.S. Circuit Court of Appeals' ruling on Friday reverses Koh's earlier decision.
The panel issued its decision on Friday, according to Reuters, reversing a lower court ruling that held that the companies would have to disclose their profit and sales information. The three-judge panel, in explaining its decision, aid the public's interest in the transparency of judicial proceedings does not extend to corporate financial information in this case.
"We recognize the importance of protecting the public's interest in judicial proceedings and of facilitating its understanding of those proceedings," the panel ruled. "That interest, however, does not extend to mere curiosity about the parties' confidential information where that information is not central to a decision on the merits."
Apple and Samsung have been locked in patent litigation for years, and prior to last year's $1.05 billion verdict in favor of Apple both companies submitted detailed sales and profit information to the court in order to calculate damages. Reuters and the First Amendment Coalition filed motions to reveal the companies' full financial information, as the copies of their filings released to the public had that information redacted.
In October of last year, Judge Lucy Koh denied Apple's request to keep its financial particulars sealed, saying that the iPhone maker's arguments were insufficient to establish the information as "trade secrets." The U.S. Circuit Court of Appeals' ruling on Friday reverses Koh's earlier decision.
Comments
Why would Apple insist on not having there sales figures disclosed publicly ?
Originally Posted by nikilok
Umm smell something fishy here ?
Why would Apple insist on not having there sales figures disclosed publicly ?
Because they already do. Unless it's itemized, or something. They don't have to release itemized lists.
Quote:
Originally Posted by ktappe
If they don't have to disclose profits, then they shouldn't be publicly traded. I don't care if it fits the merits of this case, stockholders deserve this information and it should be out there, completely aside from this case.
They do disclose quarterly earnings to the public.. Just that they don't disclosed itemized figures.
Tough. Sell the stock if you're unhappy with the disclosure.
As it stands, Apple's disclosure is by far the best in the industry. To provide anything more is to reveal competitive information that is simply not needed.
Nothing fishy. The judge was acting like an overreaching idiot, and got called on it by the Appeals court.
Next up: DoJ and that piece of work, Denise Cote.
The first of many Koh's stupid rulings that will be overturned.
We have a jury system for a reason. The judge is not supposed to simply throw things out. Furthermore, many of her specific rulings against Apple were ridiculous. It was so one sided that there was an obvious bias - and Apple STILL won.
Because the information in question is confidential business information which would give their competitors an unfair advantage.
Apple releases all the information required by law (more than most of their competitors, btw). There's no reason for them to be ordered to release their profits by product line.
Quote:
Originally Posted by nikilok
Umm smell something fishy here ?
Why would Apple insist on not having there sales figures disclosed publicly ?
Because that is competitive information. Might as well just invite Samsung and every other competitor right into their board of directors meetings.
Quote:
Originally Posted by Venger9
Apple discloses the number of ipnones, ipads, and Macs they sell every quarter and many other financial figures related to those numbers. Whereas Samsung doesn't even disclose how many phones they sell (at all) and they are a publicly traded company. And you're complaining about Apple?! So what's next? A conspiracy theory? What's so "fishy" here nikilok?
I'm sensing another alias for Teckstud has been activated.
I've only ever seen it on here in headings and it makes things odd to read.
You can use, commas wherever you, want, on the internet,
The one used between Apple and Samsung is common in news articles.
What I find odd is how so many people obsess about grammar and spelling. In an era that brought about the near-illiterate texting/social network/Youtube comment generation, I always think it could be a lot worse.
Quote:
Originally Posted by Evilution
Very off topic but when has it become ok to use a comma in place of the word "and"?
I've only ever seen it on here in headings and it makes things odd to read.
If you pick up a newspaper you'll see that they never use the word "and" in a headline. It's a common thing to use a comma in place of "and" to save space and not waste time on something obvious.
Originally Posted by Evilution
Very off topic but when has it become ok to use a comma in place of the word "and"?
I've only ever seen it on here in headings and it makes things odd to read.
When you've been doing newspapers for 100 years and have developed your own language rules.
Honestly, that's it. When you see that, know that it's a stylistic holdover from the days when we printed (ha!) news on paper (ha!) using real ink and therefore had both space and materials constraints. Shortcuts, primarily in headlines, were taken to save on both, so in this example two items in a list are treated as if there is a third. ',' is cheaper, both in ink and space, to print than 'and'.
A corruption of this, "Dix Nix Chix Mix Lix Pix, Stix His Fix Trix", for example, means "Unpleasant men reject graphic representations of lesbian oral sex and dubious efforts to improve the lot of rural residents." Much less space taken up.
Darn man! Can't we simply not print and use emoji ¿
LOL - that was nice