Transamerica Ordered To Pay $13M In Patent Suit

By Ryan Davis

Law360, New York (February 19, 2009, 12:00 AM ET) -- A federal jury has ordered Transamerica Life Insurance Co. to pay $13.1 million to Lincoln National Life Insurance Co. after finding that Transamerica sold benefit riders that infringe a Lincoln National patent.

The jury in the U.S. District Court for the Northern District of Iowa handed down its verdict Feb. 13. The $13.1 million figure represents an 11 percent royalty of the $11.9 billion in assets in Transamerica's allegedly infringing variable annuity products during the infringement period.

The jury also rejected Transamerica's argument that the patent...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles