Facebook ordered to pay $500M in Oculus lawsuit

A jury is ordering Facebook to pay $500 million to the game company ZeniMax, which had alleged that the social media platform's virtual reality division Oculus had stolen its intellectual property, according to CNBC.

ZeniMax had sued Facebook claiming that the company had "commercially exploited" its virtual reality code and trade secrets. The lawsuit alleged that the Oculus Rift product was vastly improved when Facebook hired a former ZeniMax employee as the chief technology officer of Oculus.

Facebook bought Oculus in 2014 for $2 billion.

"The heart of this case was about whether Oculus stole ZeniMax's trade secrets, and the jury found decisively in our favor. We're obviously disappointed by a few other aspects of today's verdict, but we are undeterred," Oculus said in a statement. "We look forward to filing our appeal and eventually putting this litigation behind us."

The jury ruled that Facebook was guilty of copyright infringement, violating a nondisclosure agreement and misuse of Oculus trademarks. But the company was cleared of other allegations, including theft of trade secrets.

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