SAP Must Pay Oracle $1.3 Billion
OAKLAND, Calif. (
) -- After more than three weeks duking it out in a federal courthouse,
Oracle
(ORCL) - Get Report
has been awarded $1.3 billion in damages from
SAP
(SAP) - Get Report
after it sued its rival for software theft.
The
, which was announced late on Tuesday, ends a
that saw
firebrand Oracle CEO Larry Ellison
and his CFO Safra Catz take the witness stand.
|
Oracle, however, was
unsuccessful in its attempts to subpoena
former SAP CEO Leo Apotheker, now in charge at
HP
(HPQ) - Get Report
, to appear in the Oakland courthouse.
In his closing argument, Oracle's lawyer demanded $1.7 billion in damages from SAP,
according to media reports
. SAP, which had already admitted the theft by its
now-defunct TomorrowNow subsidiary
, offered to pay a sum closer to $40 million.
An SAP spokesman told
The San Jose Mercury News
that the German firm was disappointed with the verdict and was planning to examine its options, which could include an appeal.
Shares of Oracle rose 40 cents, or 1.47%, to $27.59 in extended trading on Tuesday, while SAP's stock fell 68 cents, or 1.4%, to $48.01.
--Written by James Rogers in New York.
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