ZeniMax Seeks An Additional $2 Billion From Facebook Inc (NASDAQ:FB) Oculus

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ZeniMax Seeks An Additional $2 Billion From Facebook Inc (NASDAQ:FB) Oculus

ZeniMax and Oculus, a subsidiary of Facebook Inc (NASDAQ:FB) are both in an anxious wait for a verdict in which the former is seeking an additional $2 billion from the latter. ZeniMax feels that the $2 billion being offered by Oculus as compensation for punitive damages is not enough. It is, therefore, expectant that a jury in the federal court in Dallas, Texas will give a verdict on the $4 billion lawsuit.

The two have already presented their closing arguments in a trial, which seems somewhat complicated. It involves two plaintiffs, five defendants, nine causes of action, and over 900 court filings. With that in place, jurors will now sort out hundreds of facts and apply them to the issues contained in the jury instructions. They will also be required to weigh the credibility of testimonies and evidence presented by the witnesses.

ZeniMax through their head lawyer Anthony Sammi alleges that their subsidiary id Software played a significant role in developing trade secrets that upheld the Oculus Rift headset.  The company further states that one of its former employees used VR code after being hired by Oculus.

From all these unfolding and even as both parties wait for the verdict, the VR industry is hurting. The situation raises so many questions in regards to how ready ZeniMax technology is to hit off.

Facebook’s Oculus responds to ZeniMax’s allegations  

Both are VR companies, and Oculus is not disputing its engagement with ZeniMax in the early days. However, they claim that they declined to work with the “clowns.” According to CEO Robert Altman, virtual reality was “unproven technology, which has been failing over the years.”

Oculus further points out fingers at ZeniMax’s expertise in the field and their approach to the market.  With each trading accusations on each other, it now remains to be seen which of them will be in favor of the ruling. Meanwhile, Facebooks stock closed at $130.98 a decline of $1.20 or 0.91%