Apple Stock News: Apple facing further legal action regarding Apple Watch

Apple Stock News

Valencell, a technology company based in North Carolina has filed a lawsuit against Apple, claiming that they infringed four of their patents and practiced unfair and deceptive trade practices. Valencell, which develops mobile technologies such as heart-rate sensors for fitness trackers, is claiming that in February 2013, Liang Hoe, Apple’s senior partnership manager contacted the company. In June of 2013 Apple researchers met with them to discuss the use of their technology in the Apple Watch. Valencell says that they gave a demonstration of their heart-rate monitors to about 15 Apple employees in March of 2013.

Apple Stock News

According to the lawsuit, Valencell had sent samples of their products to Apple, and allowed Apple to run multiple tests and analyses of their circuitry, as they were under the impression that Apple was interested in a licensing or partnership deal.

Unfortunately, Apple never went through with a deal, and Valencell claims that the Apple Watch uses the same functions that they showed to Apple during their meetings.

Furthermore, Valencell claims that Apple employees downloaded information describing how the sensors worked from their website, using fake names. Lawyers for Valencell said in the Financial Times “Apple is knowingly using Valencell’s patented technology in an effort to achieve a licensing rate that is below a reasonable royalty.” Apple has refused to comment on the lawsuit.


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