Verisk Analytics ordered to pay $125m for infringing patents and told to stop selling some products
Verisk Analytics, a major supplier of products to the insurance industry, has been stopped from selling some of its products in the United States and ordered to pay $125 million by a court, which said the company had willfully infringed patents.
Verisk is an American data analytics and risk assessment firm based in New Jersey. In 2015, EagleView, a provider of aerial imagery and data analytics, brought a lawsuit against Verisk, and its subsidiary, Xactware, asserting that several products infringed EagleView patents.
The case finally came to court this month. After a 12-day trial, U.S. District Court for the District of New Jersey issued a temporary restraining order stopping, among other things, Xactware and Verisk’s sale of Property InSight, Roof InSight, Geomni Roof and Geomni Property, as well as their sale or use of Aerial Sketch version 2, after September 25, 2019. This order will be in effect until October 8, 2019, when the Court will hold a hearing on a permanent injunction.
The jury awarded EagleView $125 million in damages. EagleView said this establishes that Xactware and Verisk engaged in a year-long attempt to illegally and unfairly compete by copying EagleView innovation.
In a response to the ruling a Verisk spokesperson said: "Verisk is disappointed with the outcome of this case and is exploring all available legal options."
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