Astronics To Pay Approx. $11.9 Mln As Damage Award For Infringement Of Patent
(RTTNews) - Astronics (ATRO) announced that a judgment has been issued by the UK court presiding over its patent infringement dispute with Lufthansa Technik AG. The ruling requires Astronics to pay approximately $11.9 million as a damage award for infringement of the subject patent. Astronics expects that payment of the final liability will be required in the second quarter of 2025, and that an appeal, if any, would likely be heard in early 2026.
The company noted that any additional amounts required to be paid related to certain other factors peripheral to the damages award will be determined at a consequential hearing.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.