Philips Electronics to appeal ruling in $467 million patent lawsuit

"We are very disappointed in the verdict of the jury and surprised by the magnitude of the proposed award," Philips Chief Executive Officer Frans van Houten said. "Philips intends to pursue all avenues of appeal of this verdict at both the District and Appellate courts in the US." Philips said it would report the compensation award as an exceptional charge to the earnings before interest, tax and amortisation line of its third-quarter healthcare sector results. They also said Philips, a unit of Amsterdam-based Koninklijke Philips NV, did not show it more likely than not that Masimo had infringed one of its own patents.

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