14. DAMAGES PROVISION
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December 31, |
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December 31, |
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December 31, |
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|||
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Initial damages |
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$ |
— |
|
$ |
70,000,000 |
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$ |
— |
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|
Enhanced damages |
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|
— |
|
|
21,000,000 |
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|
— |
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Pre-judgment interest |
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|
— |
|
|
20,675,154 |
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|
— |
|
|
|
|
Accrued post-judgment interest |
|
|
— |
|
|
105,942 |
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|
— |
|
|
|
|
|
|
|
|
|
|
|
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|||
|
|
|
|
$ |
— |
|
$ |
111,781,096 |
|
$ |
— |
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|
|
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On May 19, 2016, in the Company's primary U.S. litigation with CardiAQ, following a trial in Boston, Massachusetts, a jury awarded $70 million on certain trade secret claims made by CardiAQ. On October 31, 2016, during post-trial motions, the judge awarded $21 million enhanced damages on those claims and on January 18, 2017 during post-trial motions the judge awarded $20,675,154 in pre-judgment interest and $2,354 per day in post-judgment interest from November 21, 2016. During 2017 interest of $738,021 was accrued. On November 13, 2017, the final mandate of the Appeals Court was issued and on November 17, 2017, a total of $112,519,117 was paid to settle the remaining damages and interest awards in full.