Akoustis Floats Bankruptcy on $39 Million Qorvo Verdict Loss (1)

Akoustis Technologies Inc.'s $38.6 million trial loss to Qorvo Inc. over stolen trade secrets and infringed patents threatens the company’s solvency, according to an Akoustis regulatory filing Monday.

After a two-week trial, jurors awarded Qorvo $31.3 million upon finding Akoustis misappropriated Qorvo’s trade secrets and $7 million as exemplary damages because the theft was intentional, according to a verdict issued May 17 in the US District Court for the District of Delaware.

Jurors also awarded $279,808 for infringement of two patents for bulk-acoustic wave filter, or BAW, technology—US Patent Nos. 7,522,018 and 9,735,755, which Bloomberg Law estimates will expire ...