Shares in litigation funder Burford Capital jumped more than 9% today as a result of Apple’s $5.7 billion verdict over Taptic Engine patent infringement. Last Friday, a US jury ruled that Apple’s Taptic Engine infringes on two patents held by California-based Taction Technology. Apple introduced the Taptic Engine in September 2014 with the first Apple Watch, and the technology has since expanded to other products including the iPhone. When Taction filed its patent infringement lawsuit in 2021, it accused Apple of directly and indirectly infringing two patents through the Taptic Engine used in iPhone and Apple Watch models. Following the verdict, Taction said the jury had “vindicated its patent rights,” while Apple said it strongly disagreed and would appeal.

Earlier today, Burford Capital disclosed that it has a financial entitlement in the case, and that it could be entitled to $1.4 billion if the $5.7 billion verdict is ultimately paid in full. The disclosure sent Burford shares sharply higher in London, closing up 9.41% and giving the company a market capitalization of £659.9 million ($875 million). Bloomberg Law notes that court records show Taction received funding from Kenosha Investments LP and Gronostaj Investments LLC, with Kenosha identified as an indirect subsidiary of Burford. Burford said its $1.4 billion entitlement would be split equally between its balance sheet and investment funds.