The value of Texas nonpracticing entity Smartflash LLC’s $533 million jury award against Apple Inc. is shrinking faster than the Chinese stock market.
Just two months ago, inventor Patrick Racz and attorney Bradley Caldwell of Caldwell, Cassady & Curry were asking U.S. District Judge Rodney Gilstrap of the Eastern District of Texas to treble the award to $1.6 billion. But on July 2 Gilstrap threw out the jury’s finding of willful misconduct, eliminating the possibility of trebling. Five days later he threw out the $533 million award and ordered a new trial on damages.
